Beat cream cheese at medium speed with an electric mixer until smooth. Add milk, beating until blended. Stir in chocolate morsels and toffee bits; fold in whipped topping.
Melt butter in a large nonstick skillet over medium-high heat. Add pecans; cook 5 minutes or until toasted, stirring constantly. Set aside.
Spread 1 1/2 cups cream cheese mixture into each crust. Drizzle about 2 tablespoons caramel topping over each pie; sprinkle each pie with about 2 tablespoons toasted pecans. Spread remaining cream cheese mixture evenly over pecans. Drizzle remaining caramel topping over each pie; sprinkle with remaining toasted pecans. Cover and freeze 8 hours.
Tip: You can substitute a chocolate graham cracker crust for the regular graham cracker crust.