Step 1

In a mixing bowl combine eggs, milk, and oil and mix well. Add cake mix, pudding mix, and rum; continue mixing. Fold in walnuts and butterscotch chips. Spray cake pan with cooking spray. Cook in preheated 350 degree oven for 50 - 60 minutes until toothpick inserted in center comes out clean. Cool for 15 minutes in pan before removing. Add Frosting.

Step 2

Combine butter and butterscotch morsels in a glass dish and microwave on high until melted. Remove and stir in 1 1/2 cups of the frosting. Return to microwave and heat just to pouring consistency. Remove and stir in rum. Can add more of the frosting until you get the right consistency to pour over cake. (If you have frosting left over, cover and put in fridge. Heat and serve over individual cake slices)