Preheat oven to 350 degrees F. Line a 9x9” baking pan with parchment or foil, if possible, for easy removal and clean-up. Set aside.
Melt butter in a medium bowl or saucepan. Stir in the vanilla, then sprinkle the flour, oats, brown sugar, baking soda, and 1/2 teaspoon salt on top. Stir well until the mixture is even. Scoop roughly half of this mixture out into the prepared baking pan, and press it firmly into a thin, even layer that covers the bottom of the pan, corner to corner. Bake for 8-10 minutes, just until lightly golden.
Meanwhile, unwrap caramels and combine them with the cream in a small saucepan over medium-low heat. Stir frequently until the caramels are completely melted and smooth, then stir in remaining 1/4 teaspoon salt and remove from heat.
After removing the crust from the oven, sprinkle it with chocolate chips, then pour melted caramel evenly over the chocolate. Sprinkle the remaining oat mixture evenly on top. Don’t worry if there are some gaps where the caramel peeks through.
Bake for another 18-20 minutes. The top should be light golden brown, and the caramel will be very hot and bubbling. Remove and allow to cool completely, 3-4 hours at room temperature, or 1-2 hours in the fridge, before lifting out the bars, slicing, and serving.