Combine butter, sugars, corn syrup, and sweetened condensed milk in a microwaveable safe bowl until smooth.
Cook for 6 minutes in your microwave, removing and stirring every two minutes.
When caramel is done cooking, pour into a 9 x 9 inch baking pan sprayed with nonstick cooking spray.
Let cool completely, then cut into squares.
Set the caramels on a wax-lined baking sheet and make sure they are completely set up before dipping them.
In a microwave safe bowl, melt chocolate chips and vegetable oil in 30 second intervals (stirring in between) until smooth.
Dip each caramel square in the chocolate, then place on a baking sheet lined with wax paper. Repeat until all caramels have been dipped.
Top with sea salt, then let cool until chocolate has hardened.