Make the caramel: In a heavy saucepan over low heat, melt sugar without stirring until it turns into liquid caramel. Immediately pour the caramel into a large (14 cup) Bundt cake pan and twirl it around the walls of the pan. Let the caramel cool down. It will turn solid.
Make the cake: In the blender process carrots, sugar, eggs and oil for 3 - 5 minutes until smooth. In a medium bowl, using a fork, mix well the dry ingredients: flour, cinnamon, nutmeg, baking soda, baking powder and salt.
With a mixer whisk egg whites until they are firm and they have doubled in size They should be firm enough that when you invert the bowl they won't fall off it (4 - 5 minutes on the Medium setting of the mixer).
In a large bowl, pour the carrot mix processed in the blender. Start adding the flour mix gradually to the carrot mix, and stir until everything is well combined. Do not overmix.
Fold egg whites into the carrot cake batter very carefully. The point is to integrate them, but just so that the batter will be airy and fluffy and it rises to the top of the baking pan while baking. Remember, do not overmix. Spoon the batter into the Bundt cake baking pan, on top of the caramel.
Make the flan: In a blender, combine evaporated milk, condensed milk, whole milk, eggs and vanilla extract and process until smooth.
Carefully spoon the flan mixture on top of the cake batter.
Cover the Bundt baking pan with foil, place it in a larger baking pan and add boiling water to the larger pan up to 2" high. Water should not get into the Bundt baking pan.
Bake for 1 hour 25 to 1 hour 40 minutes (depending on your oven) at 350 °F.
Take the cake-flan out of the oven and let it cool down somewhat. Carefully run a sharp knife along the Bundt pan walls, between the cake and pan wall. While still warm, carefully invert cake-flan unto a cake stand or serving platter and let the cake-flan cool off completely.
Make the frosting: In one bowl manually mix the softened cream cheese, vanilla extract and icing sugar until smooth. In another bowl, using the mixer, whip the whipping cream on medium-high speed until soft peaks form (about 4 minutes). Fold the whipped cream into the cream cheese mix. Set aside a bit of the frosting to color it with green food coloring and another bit of frosting to be colored with orange food coloring.
Pipe 3 or 4 rosettes on top of the flan with the uncolored frosting. Pipe as many carrots as rosettes on top of the rosettes. Garnish top of flan with chopped pecans. Enjoy!
Notes
If you don't own a big enough Bundt cake pan, you can always equally divide both cake batter and flan mix into two smaller Bundt or tube pans.