1Heat oven to 350°F. Grease and flour 9-inch round cake pan. In medium bowl, beat all shortcake ingredients with electric mixer on low speed 30 seconds, scraping bowl constantly. Beat on high speed 3 minutes, scraping bowl occasionally. Pour into pan.
2Bake 35 to 40 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes. Remove from pan to cooling rack. Cool completely, about 15 minutes.
3In chilled large bowl, beat whipping cream, caramel topping and powdered sugar with electric mixer on high speed until stiff. Stir in pecans. Split shortcake horizontally. Fill and top shortcake with whipped cream mixture.