Preheat the oven to 350°F. Grease and flour a 9x13-inch baking pan.
In a large mixing bowl, combine the flour, sugar, baking powder, and salt. Add the softened butter, eggs, milk, and vanilla extract. Beat on medium speed for 2-3 minutes until well combined and smooth.
Fold in the toasted pecans gently until evenly distributed. Pour the batter into the prepared baking pan and spread it evenly.
Bake for 30-35 minutes or until a toothpick inserted in the center comes out clean. Remove from the oven and let cool for about 10 minutes.
Using the handle of a wooden spoon or a fork, poke holes all over the top of the cake, about 1 inch apart.
Drizzle the caramel sauce evenly over the warm cake, allowing it to seep into the holes. Let the cake cool completely at room temperature, then refrigerate for at least 2 hours to set.
In a mixing bowl, whip the heavy cream, powdered sugar, and vanilla extract until soft peaks form. Spread the whipped cream over the chilled cake.
Garnish with extra chopped pecans and drizzle with additional caramel sauce if desired.
Serve chilled or at room temperature.