Step 1

Arrange two racks to divide the oven into thirds and heat the oven to 350°F. Meanwhile, line 3 baking sheets (or as many as you have) with parchment paper or silicone baking mats. Melt 2 sticks unsalted butter in the microwave or on the stovetop and set aside to cool slightly. Coarsely chop 2 cups toasted salted or unsalted cashews. Unwrap 36 soft caramel candies.

Step 2

Place the butter, 1 1/3 cups packed brown sugar, and 1/3 cup granulated sugar in a large bowl and whisk to combine. Add the cashews, 2 large eggs and 1 tablespoon vanilla extract, and whisk until ribbony and smooth. Add 3 cups all-purpose flour, 1 teaspoon baking powder, 1 teaspoon baking soda, 1 teaspoon salt, and 1 teaspoon ground cinnamon. Stir with a rubber spatula until a soft dough forms.

Step 3

Using your hands, take 2 caramel candies, press them together, and roll them into a smooth ball. (Depending on the brand and freshness of your caramel candies, they might be too firm to press together. If so, arrange the caramels in a single layer on a large microwave-safe plate and microwave for 30 seconds until the caramels are warm but not melting. If you accidently microwave them too long and they start to melt, just let them cool for a few minutes.)

Step 4

Using a large 2 1/3-inch (#cookie scoop or 1/4-cup measuring cup, portion out the dough and roll into large balls. Flatten the balls slightly and press a caramel ball into the center of each one. Tightly form the dough around the caramel and reroll into a ball again. Make sure there are no cracks so the caramel does not ooze out during baking. Place the dough balls 3 inches apart on the baking sheets (6 to 8 per sheet).

Step 5

Bake 2 sheets at the same time, swapping the top sheet to the bottom rack and bottom sheet to the top midway through baking, until the tops of the cookies are lightly browned, 14 to 17 minutes total. Let the cookies cool on the baking sheets for at least 30 minutes before moving. (If you try to pick up the cookies while still hot, the caramel will fall out—and potentially burn you—so be patient.)

Step 6

Bake the remaining sheet on either rack. If reusing a baking sheet, I recommend leaving the cookie dough at room temperature as the first batch cools.