Heat butter, caramel bits, chocolate chips, and milk on the stovetop in a large saucepan or stock pan on LOW heat.

Mash caramel bits as they heat with the back of the wooden spoon to speed up the melting process. Continually stir until smooth and creamy. This will take about 5 minutes. Go low and slow to prevent burning.

Add marshmallows to chocolate mixture and stir until melted and smooth. Remove mixture from heat.

Stir in Krispy cereal. Stir until evenly coated.

Cover a cookie sheet or work surface with parchment paper. Add 1/4 cup scoops of cookie mixture onto parchment paper (can also use 2 scoops using a cookie scoop for each cookie).Press down with a plastic measuring cup or cup to flatten cookies (you can spray the back of the cup with nonstick spray to prevent the cookie mixture from sticking to it).Let cookies cool for 5 minutes, then use your hands to press edges smooth and round.