Preheat the oven to 350°F (175°C). Grease and flour a 9x13-inch baking pan.
In a large mixing bowl, combine the chocolate cake mix, water, vegetable oil, and eggs. Beat on medium speed for 2 minutes until well combined.
Pour the batter into the prepared pan and bake for 30-35 minutes, or until a toothpick inserted in the center comes out clean.
Once baked, remove the cake from the oven and let it cool for about 15 minutes.
Using the handle of a wooden spoon, poke holes all over the top of the cake, about 1 inch apart.
In a separate bowl, mix the sweetened condensed milk with 1/2 cup of caramel sauce. Pour this mixture evenly over the cake, allowing it to seep into the holes.
Drizzle the remaining 1/2 cup of caramel sauce and 1/2 cup of chocolate fudge sauce over the top of the cake.
Allow the cake to cool completely, then spread the whipped topping evenly over the top.
Sprinkle with chopped pecans and chocolate chips.
Refrigerate the cake for at least 2 hours before serving to allow the flavors to meld.