Line an 8 inch square pan with aluminum foil. In a small pot over low heat, cook the milk and the sugar, stirring frequently to dissolve the sugar and thicken the milk, about 30 to 40 minutes. Be sure to scrape down the caramel on the sides of the pot, too.
Meanwhile, toast the nuts and coconut in a dry skillet over medium heat until they become fragrant and begin to brown. Set aside to cool.
When milk is thickened, add chocolate and stir constantly until melted. Stir in salt, vanilla, nuts, and coconut. Remove from heat.
Pour mixture into pan, sprinkle top with chocolate chips, and refrigerate until firm, at least 2 hours. When ready to serve, invert pan, peel off foil, invert again, and cut into 1 inch squares 7 cuts in each direction with a sharp pointed knife.