Unwrap each caramel and put in a large pot over low heat. Add salt, butter, and sweetened condensed milk.
Allow mixture to sit and heat over low heat until fully melted. Stirring occasionally until well combined.
Once fully melted add the marshmallows and continue to stir the mixture till they are fully melted and mixed in.
In a large bowl add the cereal. Then pour the caramel-marshmallow mixture over the cereal. Using a lightly greased spatula mix the cereal and gooey mixture together till well combined.
Spread the cereal treat into a lightly greased 9x13 dish. Allow to cool and firm up. Cut into bars and enjoy.