Combine the corn syrup, 1/4 cup butter, brown sugar, and whipping cream in a small saucepan. Cook over low heat, stirring constantly, just until mixture comes to a simmer (do not boil). Remove from heat; stir in pecans (mixture will be thin). Pour into a heavily buttered Bundt pan. Set aside.
Place chocolate in the top of a double boiler; bring water to a boil. Reduce heat to low; cook until the chocolate melts, stirring occasionally. Set aside.
Beat the remainging 1/4 cup plus 2 tbsp butter at medium speed of an electric mixer about 2 minutes or until soft and creamy. Gradually add 1 1/2 cups sugar, beating at medium speed for 5 to 7 minutes. Add the reserved melted chocolate, egg yolks, and vanilla, beating well.
Combine flour, baking powder, and salt; add to the butter mixture alternately with the milk, beginning and ending with the flour mixture. Mix at low speed just until blended after each addition.
Beat egg whites in a small bowl at high speed until stiff peaks form. Gently fold beaten egg white into the batter. Spoon batter over the pecan mixture in the pan.
Bake at 350 degrees for 45 minutes or until a wooden pick inserted in the center comes out clean. Loosen cake from the sides of the pan, using a narrow metal spatula. Immediately invert cake onto a serving plate. Serve warm with whipped cream.