Prepare caramel sauce according to directions listed and allow to cool slightly. Heat milk in a medium saucepan over medium heat.
Once milk is warm, stir in chocolate chips and caramel, and cook whisking constantly until chocolate has melted.
Allow to cool slightly and serve warm topped, topped with sweetened whipped cream or miniature marshmallows, drizzle each serving with 1 Tbsp caramel sauce and garnish with grated chocolate if desired.
*For a richer hot chocolate, you can use up to 1/2 cup bittersweet chocolate chips and mix in more caramel sauce as well if desired.
Keep in mind homemade caramel sauce generally has more calories and fat and will increase count listed.