Combine all cupcake ingredients in a mixing bowl with 1/3 cup of water. Whip with a whisk or fork for 2 minutes until well blended.
Spray a 12-cup muffin pan with nonstick spray or line with baking cups. Evenly spoon batter into muffin cups.
Place pan in the oven and cook for about 12 minutes (until cupcakes have puffed up but still appear a little gooey on top).
Once cupcakes are cool enough to handle, arrange them closely on a plate so that the edges are touching. Place caramel and soymilk in a tall microwave-safe glass or dish (mixture will bubble and rise when heated).
Microwave at medium power for 1 1/2 minutes. Stir mixture vigorously until smooth and thoroughly blended. (Return to microwave for 30 seconds at medium heat if caramel has not fully melted.) Immediately drizzle caramel sauce over cupcakes.