Preheat oven to 350F degrees. Spray a 9"x 13" baking dish with nonstick cooking spray.
In a medium bowl (or your stand mixer bowl), combine all the cake ingredients except for the chopped pecans. Mix very well.
Then stir in 1/2 cup chopped pecans.
Pour batter into greased baking dish.
Bake for about 40 minutes. Oven times vary but cake should spring back to the touch and be golden brown. Or insert a toothpick into the middle it should come out clean.
For the sauce: In a small pot over medium heat (or in a microwave), melt 2 tablespoons butter.
Pour in can of sweetened condensed milk with the melted butter and stir.
Continue to stir until heated thoroughly, then add 1/2 cup chopped pecans. Stir again then take off heat.
Then spoon this deliciously yummy sauce over individual slices of cake when serving. Or pour it all over the whole cake.
Video
Notes
You can also make this in a bundt pan. Bake for about 50 minutes.
I prefer to pour the sauce over the individual slices. I think it makes a prettier presentation but you don't have to do that. You can just pour all of the sauce over the entire cake.