1. Preheat your oven to 350℉, rack in center. Grease two 8-inch round cake pans with baking spray and line bottoms with parchment.
2. Add all of the dry ingredients to the bowl of your stand mixer, whisk to combine. Add all of the liquid ingredients to the bowl.
3. Using the whip attachment, blend on low to combine and then give the whisk and bowl a scrape. Turn the mixer to medium high speed and whip for 2 minutes. Scrape bowl and mix on low 1 minute.
4. Divide batter between pans and sprinkle the chips evenly over batter between both pans. Bake for 30-40 minutes, or until a toothpick inserted in the center comes out with moist crumbs.
5. Place a piece of parchment over the cakes and use an oven mitt to gently press the center of each cake down for a moment to level it out. Cool the pans on wire racks for 15 minutes. Wrap cakes, still in pans, in plastic and cool completely.
6. Place a cooled cake layer on platter, spread about 1 cup buttercream on top. Drizzle with caramel sauce. Place second layer on top and press into place. Frost top of cake with 1 cup buttercream. Drizzle top of cake with caramel sauce and swirl if desired. Stir a couple tablespoons of mini chocolate chips into remaining buttercream and frost sides.