Melt butter in skillet over medium heat. Add almonds (first) to melted butter, then coconut, allowing them to become golden brown. Remove from stovetop burner.
Mix softened cream cheese, condensed milk and cool whip.
Layer in pie shell:
1/2 of cream cheese mixture, 1/2 of almonds/coconut/butter; then repeat. Drizzle caramel/butterscotch topping over pies. Keep in freezer 2 to 3 weeks.
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