Prep and measure out your nougat ingredients, making the process go faster. In a medium saucepan over medium heat, melt the butter. Stir in the sugar and evaporated milk, bringing the ingredients to a boil.
Then, add the caramels and evaporated milk to a small saucepan, cooking over medium-low heat. Stir the ingredients constantly until the caramel is smooth and melted. Add the caramel layer to the pan in the freezer, returning it to continue chilling after creating an even layer.