Make the brown butter. In a small saucepan over medium heat, melt the butter, stirring occasionally. Continue to cook the butter until it becomes foamy and you can hear cracking and popping noises. Once that happens, continue to stir occasionally for 3-5 minutes until the butter develops a nutty aroma, brown bits start to form in the bottom of the pan and the butter turns an amber color. Once this happens, remove from the heat and pour into a mixing bowl. Allow to cool to room temperature, 20-30 minutes.
Once cooled, make the dough. Cover a large baking sheet with parchment paper and set aside.
In the bowl of a stand mixer fitted with the paddle attachment or in a large bowl with the hand mixer, beat the butter, dark brown sugar and granulated sugar together until combined, 2-3 full minutes.
Add the vanilla, egg and egg yolk and continue to beat until combined, about another 1 minute.
Add the four, baking soda, baking powder and 1 teaspoon of salt into the wet mixture and beat until incorporated.
Add the chocolate chips and chocolate chunks and combine using a rubber or wooden spatula.
Using a large rounded tablespoon, scoop the dough and place on prepared baking sheet. You should have 24-28 scoops. Make sure you have an even number when all the dough is gone. Take one rounded scoop of dough and place one caramel in the center, pushing down slightly. Take another piece of dough and place it on top. Form a ball with the dough so the caramel is completely covered. Place back on the baking sheet and repeat the process until all the dough scoops are gone. You should end up with 12-14 large cookies.
Once rolled, cover with plastic wrap or foil and chill for at least 3 hours or overnight (preferred). This is the point where you can place the cookies in the freezer for up to 3 months as well.
Preheat the oven to 350°F and remove the dough from the refrigerator to allow to set for 10-15 minutes.
Place the dough in the oven, making sure the cookies are at least 2 inches apart. Bake for 13-15 minutes, or until dough spreads and the cookies are set on the top.
Allow to cool on the cookie sheet for 5 minutes then transfer to cooling rack.