Microwave caramels and milk in microwaveable bowl on HIGH 2 to 3 min. or until caramels are completely melted and mixture is well blended, stirring after each minute. Spoon over cookies; spread with spatula to form even layer in pan.
Sprinkle with coconut; drizzle with chocolate.
Let stand 10 min. or until caramel is firm before cutting dessert into bars.