In a heavy bottom saucepan combine sugar and water and bring to a boil.
Continue boiling until the mixture turns a deep amber color, then slowly whisk in the warmed cream until thoroughly incorporated. Remove from heat and add salt and butter. Stir until butter is totally incorporated into the mixture. Transfer to a serving dish or storage container and allow to cool.
Ice Cream Base
Whip the heavy cream in a large bowl with a hand mixer just until stiff peaks form.
Pour the sweetened condensed milk into a bowl and add the vanilla extract.
Add one scoop of the whipped cream to the bowl of condensed milk and mix it in. Then gently fold the rest of the whipped cream into the now lightened condensed milk. Fold in the remaining whipped cream into the mixture. Do not over mix.
Ice Cream
Pour half of the whipped cream/condensed milk mixture into an 8” square pan. Drizzle the cooled salted caramel sauce over the milk mixture and spread the chopped pecans evenly over the entire surface. Top with remaining whipped cream/condensed milk.
Use a butter knife to incorporate the caramel sauce and pecans throughout the ice cream by pressing it down into the mixture and making sweeping “cuts” back and forth across the entire length of the pan.
Cover with wax paper and press down to remove any air pockets. Place in freezer for a minimum of 6 hours, but preferably overnight. Store any remaining salted caramel sauce in an airtight container for up to one week.