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For the Cake
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Preheat oven to 350°. Place cupcake liners into cupcake pan. In a large mixing bowl, on low to medium speed, blend all ingredients. Fill each cupcake liner with 2 ½ Tbsp. of batter. Place in oven and cook for 20 minutes or until cake test is passed. Remove cupcakes from pan and allow to cool on cooling rack. Once cooled, cut a shallow hole into the top center of the cupcake. Set aside.
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For the Caramel Sauce
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Place all ingredients in small pot and cook over medium to high heat, while constantly stirring. Allow sauce to come to a slight boil and reduce heat to low. Continue stirring for 1 minute. Remove sauce from heat and set aside to cool. Once cooled, fill holes in every cupcake with 1 tsp. of caramel sauce. Set aside.
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For the Frosting
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On low to medium speed, blend all ingredients. Top cupcakes with frosting.