Preheat your oven to 350°F (175°C) and line a cookie sheet with parchment paper.

In a large mixing bowl, cream together the butter and sugar using a hand mixer for about 3-4 minutes.

Beat in the egg whites and vanilla extract, then gradually add flour and baking powder until smooth.

Roll out cookie dough to 1/4 inch thick and cut into circles approximately 2 inches in diameter.

Bake for 6-8 minutes until golden and slightly puffy; cool on pan for 5 minutes before transferring to a wire rack.

Combine caramels and heavy cream in a microwave-safe bowl and heat until smooth.

Spread melted caramel over each cooled cookie and chill in the refrigerator for 15 minutes to set.

Melt milk chocolate chips in the microwave, then spoon over the caramel layer on each cookie.

Chill cookies again until the chocolate has fully set, approximately 30 minutes.