Preheat your oven: Begin by preheating your oven to 325°F (160°C), and line a muffin tin with cupcake liners.
Prepare the crust: In a mixing bowl, combine 1 1/2 cups graham cracker crumbs and 1/4 cup melted butter. Stir until the mixture resembles wet sand. Evenly press this crumb mixture into the bottom of each muffin liner, creating a firm crust.
Mix the cheesecake filling: In a large bowl, beat together 16 oz softened cream cheese, 1/2 cup granulated sugar, and 1/4 cup brown sugar until smooth and creamy. Add in 2 large eggs, 1/4 cup heavy cream, and 1 tsp vanilla extract, mixing until fully combined.
Add chocolate chips: Gently fold in 1/2 cup mini chocolate chips until evenly distributed throughout the cheesecake mixture.
Fill the muffin liners: Spoon the cheesecake filling into each lined muffin cup, filling them about 3/4 full. This will allow for some rising while baking.
Add the caramel: Drizzle 1/4 cup caramel sauce over the top of the cheesecake filling in each cup. Use a toothpick or a skewer to swirl the caramel gently into the mixture.
Bake the cheesecakes: Place the muffin tin in the preheated oven and bake for 18-22 minutes or until the cheesecakes are set but still slightly jiggly in the center.
Cool and chill: After baking, remove the cheesecakes from the oven and allow them to cool at room temperature. Then, refrigerate them for at least 2 hours to set completely.
Garnish and serve: Just before serving, drizzle additional caramel sauce over the chilled cheesecakes and sprinkle with 1/4 cup extra mini chocolate chips for a decorative touch.