In a skillet, melt butter and add coconut and pecans.
Stir constantly and cook until golden brown. Set aside to cool.
In a bowl, mix together cream cheese and eagle brand milk until smooth.
Fold cool whip in lightly and mix until well blended.
In each baked pie shell, pour 1/2 of the cream cheese mixture and drizzle caramel topping on top.
Sprinkle with 1/4 of the coconut/pecan mixture.
Repeat layers using all ingredients. I only repeat twice, but you can try to do it three times.
Cover with foil and place in freezer until hard. (I don't put the foil on until its frozen otherwise it sticks to your foil)