Add the sugar to a small saucepan over low heat. Gently stir the mixture.
The sugar will starts to form lumps. Continue to gently stir. It will eventually turn into a smooth amber liquid without lumps.
Carefully add in the chopped butter. Whisk until the butter is fully melted and incorporated.
Remove from the heat and whisk in the cream until the mixture is smooth. Allow the caramel to cool. Note: this recipe will make about 1 cup total of caramel sauce - you will not use all of it in the caramel filling for the pie.
Oreo Crust
Add the cookies (wafers and filling) to a food processor and pulse until fine crumbs. Or place in a Ziploc bag and crush with a rolling pin.
Mix the cookie crumbs with the melted butter.
Press the mixture into the bottom and up the sides of a 9-inch pie pan. Place in the fridge as you make the filling.
No-Bake Caramel Filling
In a large bowl, whip the cream until stiff peaks form.
In a separate large bowl, beat the cream cheese until smooth. Beat in the powdered sugar and cooled ½ cup of salted caramel sauce
Using a large rubber spatula, gently fold in the whipped cream until the mixture is smooth and even.
Spoon the mixture into the cookie crust and smooth the top.
Cover the pie plate, and place in the fridge for 6 hours to set before serving.
To Serve
Beat the whipped cream until stiff peaks form.
Spread the whipped cream over top of the pie, and drizzle with more caramel sauce.
Slice pieces using a thin, sharp knife (not a table knife) being sure to slice all the way through the crust. I find the first piece can be a little hard to get out of the pie plate, but after that, they cut more easily.
Notes
Feel free to use this recipe for salted caramel sauce. Or use your favorite recipe or store bought. Make sure to choose a caramel sauce that is very thick - such as one that comes in a jar instead of a squeeze bottle. Dulce de leche works too. This recipe will yield about 1 cup total. You'll only need ½ cup in the pie filling, then the rest you can use to drizzle on top.
Make sure to use full fat, brick-style cream cheese. Do not use lite, spreadable or whipped. Cream cheese should be softened to room temperature before getting started.
Store leftovers covered in the fridge for up to 3 days. Pie can be served frozen as well. If freezing the pie, place it in the fridge about 30 minutes before serving so it's easier to slice.
Nutrition information is based on 1 piece with whipped cream on top, but without any extra salted caramel sauce drizzled on top assuming the pie is sliced into 10 equal pieces. It is meant as an estimate only.