1Heat oven to 300°F. Grease 15x10x1-inch pan. In large bowl, mix cereals.
2In 2-quart saucepan, heat milk, butter and caramels over low heat, stirring constantly, until caramels are melted. Pour over cereals, stirring until evenly coated. Spread in pan.
3Bake 20 to 24 minutes, stirring after 10 minutes, until golden brown. Spread on waxed paper to cool, about 15 minutes.
4In microwavable bowl, microwave chocolate chips uncovered on High about 1 minute or until chocolate can be stirred smooth (bowl will be hot). Drizzle chocolate over snack. Refrigerate about 30 minutes or until chocolate is set. Store in airtight container.