In a heavy medium saucepan, combine the unwrapped caramels and the milk. Cover and cook the mixture over low heat for about 15 minutes or until the caramels melt, stirring the mixture occasionally.
Meanwhile, in a large bowl, stir together the flour, rolled oats, brown sugar, baking soda and butter or margarine till well combined. Reserve about 1 cup of the oat mixture. Press remaining oat mixture into bottom of a 13x9x2-inch baking pan to form an oatmeal crust.
Bake the crust in a 350 degree oven for 8 minutes. Remove pan from oven.
Spread the melted caramel mixture evenly over crust in pan. Sprinkle with the milk chocolate pieces. Sprinkle with the reserved oat mixture.
Return to the 350 degree oven and bake for about 15 minutes or till the top is golden. Transfer the pan to a wire rack to cool well. Cut into bars. Makes 32.