Arrange a rack in the upper third of the oven and preheat to 350 degrees . Line a cupcake pan with baking liners. In a large bowl, whisk together the flour, baking powder, cinnamon and salt.
In a medium bowl, whisk together the eggs, brown sugar and granulated sugar until smooth. Whisk in the oil and vanilla. Stir into the flour mixture until just combined; stir in the apples. Spoon the batter into the prepared pan until almost full. Bake until golden and a toothpick inserted in the center comes out dry, 25 to 30 minutes. Transfer to a rack to cool completely.
In a small, microwavable bowl, combine the caramels and cream. Microwave for 1 minute at medium power, then stir; repeat in 30-second intervals until melted and smooth. Let cool. Spread the frosting generously on the cooled cupcakes.