Preheat oven to 350F. Lightly spray a 13×9 pan with nonstick cooking spray.
In a large bowl, combine cake mix, pumpkin and egg beaters. Beat together until smooth and uniform. Spread mixture in the prepared pan and bake for 20-25 minutes or until tester comes out clean when inserted. Let stand for a few minutes.
Using the back of a wooden spoon, carefully poke holes in the cake. While cake is still warm, pour in the condensed milk over the cake and let it soak in.
Refrigerate cake for 1 hour before serving. Spread the tub of cool whip over the cake and serve drizzled with health bits and caramel sauce.