If you have only one pan and a recipe calls for more cupcakes than your pan will make, cover and refrigerate the rest of the batter while baking the first batch. Cool the pan about 15 minutes, then bake the rest of the batter, adding 1 to 2 minutes to the bake time.
If you prefer, finely chopped pecans or walnuts can be substituted for the peanuts. To toast nuts, heat oven to 350°F. Spread nuts in ungreased shallow pan. Bake uncovered 6 to 10 minutes, stirring occasionally, until light brown.
Miniature chocolate chips, sprinkled over the caramel mixture, work well as a topping too!