Melt caramels with milk in a small microwaveable bowl on high 1 to 1 1/2 minutes; stir mixture until smooth.
Pour into crust; sprinkle with nuts. Beat cream cheese, sour cream and sugar until smooth; stir in apple pie filling, vanilla and cinnamon. Fold in half of the whipped topping.
Spread mixture over caramel layer in crust. Chill for at least 4 hours.
Garnish with remaining whipped topping, and melted caramels, if desired.