Preheat oven to 325 degrees.
Sprinkle nuts into pie shell.
In a small saucepan over low heat melt caramels with 2/3 c condensed milk. Spoon over walnuts.
In bowl, combine egg, butter, and remaining milk, mix well.
Stir in melted chips.
Pour mixture over caramel layer.
Bake 35 minutes or until center is set. Cool.
Store in refrigerator.