In a small saucepan, combine the caramels and evaporated milk. Place over medium-low heat and cook and stir until caramels are fully melted.
Stir in 1/2 cup of pecans and then pour mixture into the oreo crust. Refrigerate for at least 20 minutes.
In a large bowl, beat cream cheese and sour cream until smooth.
In a separate bowl, whisk together the pudding mixture and milk for about 2 minutes.Add pudding mixture to the cream cheese mixture and beat until completely mixed.
Spread mixture over the caramel mixture. Refrigerate for at least 1 hour.
To serve, heat the hot fudge topping and drizzle desired amount over pie. Sprinkle with toasted pecans.