1. In large microwave-safe bowl combine pretzels and pecans.
2. In small microwave-safe bowl combine caramels, butter and milk. Microwave at high for 2 to 2 1/2 minutes or until smooth, stirring every minute. Drizzle over pretzel mixture. Stir until evenly coated.
3. Microwave pretzel mixture at high for 4 minutes, stirring every minute. Stir in KELLOGG'S KRAVE Chocolate cereal. Spread on baking sheet lined with foil and coated with cooking spray. Cool completely. Break into chunks. Store in airtight container for up to 3 days.