Beat butter and cream cheese together until well blended; stir in flour. Form into a ball; chill for one hour or overnight.
Shape dough into 1/2-inch balls; press each into an ungreased mini muffin cup. Bake at 350° for 10 to 15 minutes or until golden. Let cool.
Combine caramels and evaporated milk in a saucepan over medium heat. Stir frequently until melted. Remove from heat; stir in liqueur or coffee. Spoon caramel filling into baked shells; let cool.
Pipe frosting onto caramel filling.
For Frosting, blend shortening and sugar together until fluffy; add evaporated milk and liqueur or coffee. Beat with an electric mixer on medium-high until fluffy or about 7 to 10 minutes.