Preheat oven to 350°. Beat butter and sugar at medium speed until creamy. Add eggs, 1 at a time, beating until blended after each addition. Combine flour, baking powder and salt; add to butter mixture alternating with milk, beginning and ending with the flour mixture. Beat at low speed until blended after each addition. Stir in vanilla.

Place baking cups in 2 (12 cup) muffin pans. Spoon batter into cups, filling 2/3 full. Bake 12 to 15 minutes or until a toothpick inserted comes out clean. Cool in pans on wire racks for 10 minutes then remove from pans and return to racks to cool completely.

To prepare frosting, melt butter in a heavy saucepan over medium heat. Add brown sugar; bring to a boil, stirring constantly. Stir in evaporated milk, baking soda and light corn syrup; bring to a boil, stirring occasionally until bubbly. Remove from heat and let cool. Transfer caramel mixture to a large bowl. Gradually add powdered sugar to caramel mixture; beat at medium speed until creamy. Stir in maple flavoring and beat at high speed for 2 minutes. Frosting firms up quickly, so use immediately. Frost each cupcake with frosting and top with bacon.