Line a 12-cup muffin pan with liners.
Place the unwrapped caramels and heavy whipping cream in a microwave safe bowl. Heat on high power in 30 second increments, stirring well between each heating, until melted and smooth (about 90 seconds). Set aside.
Melt half the chocolate according to package directions. (I used Candiquik - it’s more reliable than regular chocolate when melting.)
Evenly divide the chocolate among the 12 muffin liners. (If you want the cups to be sealed, unlike the photos, use a spoon to pull some of the chocolate up the sides of the muffin liner, about halfway.)
Mix peanut butter, butter, and both sugars in a medium sized bowl using a hand mixer. Place heaping tablespoon balls of peanut butter on top of the chocolate. Dampen your hands, or spray them with cooking spray, and slightly flatten the peanut butter balls. (They’re sticky.)
Spoon about 3/4 of a tablespoon of caramel over the peanut butter. Freeze the muffin pan for 15 minutes.
Place remaining chocolate in a new bowl (don’t try and melt over the old chocolate; it might seize) and melt according to package directions. Spoon equally over the top of the caramel and spread with the back of a spoon. The chocolate will harden faster this time, since the caramel is cold. Tap the muffin pans to even out the chocolate, if needed.
Chill until set, about 30-60 minutes. Store in refrigerator, but best eaten after the’ve warmed up a bit. Don’t unwrap until right before eating or caramel will goop all over.