Caramel Apple Bread Pudding

1
Tbsp. butter
3
small Gala apples, peeled, chopped (about 3 cups)
25
KRAFT Caramels
1
can (12 oz.) evaporated milk, divided
1
can (14 oz.) sweetened condensed milk
4
eggs
1
tsp. vanilla
1/2
tsp. ground cinnamon
3/4
lb. unsliced white bread, cut into 1-inch cubes (about 8 cups)
1/2
cup dried cranberries
1
cup thawed COOL WHIP Whipped Topping
Make It

HEAT oven to 350°F.

MELT butter in large skillet on medium heat. Add apples; cook 5 min. or until crisp-tender, stirring frequently. Remove from heat.

PLACE caramels in microwaveable bowl. Add 2 Tbsp. evaporated milk; set aside. Pour remaining evaporated milk into large bowl. Add sweetened condensed milk, eggs, vanilla and cinnamon; whisk until blended. Add bread; stir until liquid is absorbed. Stir in apples and cranberries; pour into buttered 2-qt. baking dish. Place in water bath.

BAKE 1 hour 10 min. on or until knife inserted in center of pudding comes out clean.

MICROWAVE caramels in microwaveable bowl on HIGH 1 min. or until completely melted, stirring every 30 sec. Drizzle over pudding. Serve topped with COOL WHIP.

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