Combine buttermilk, sugar, baking powder, baking soda, salt, eggs, and cocoa powder in a medium-sized mixing bowl. Whisk until combined.
Add in the flour and chocolate chips and stir until well combined.
Heat a non-stick griddle to medium-high heat. Cook your pancakes on the griddle by scooping 1/4 cup of the batter onto the griddle. Flip the pancake over when bubbles appear. The pancakes are done when they are lightly browned on both sides and cooked through.
Make the caramel sauce by combining the buttermilk, sugar, butter, and corn syrup in a large soup pot.
Bring to a boil, stirring constantly.
Reduce heat to low Stir constantly and simmer for about 8 minutes, until it turns a nice caramel color.
Remove from heat and add the baking soda and vanilla. It'll foam like crazy which is why you are using such a large pot. Serve hot over freshly made pancakes.