Heat oven to 350°F. Spray 12-cup fluted tube cake pan with cooking spray.
In 1-gallon resealable food-storage plastic bag, mix sugar and cinnamon. Separate both cans of dough into 16 biscuits. Cut each biscuit into quarters. Add biscuit pieces to sugar mixture. Seal bag; shake to coat. Layer biscuit pieces and pecans in pan.
In small bowl, mix caramel topping and vanilla. Pour over biscuit pieces.
Bake 40 to 45 minutes or until golden brown and no longer doughy in center. Cool in pan 10 minutes. Invert onto serving plate. Serve warm.