In a large bowl, mix the flour, sugar, baking powder, cinnamon and salt.
Add the pumpkin, applesauce, vanilla, eggs, evaporated milk, and mix until batter is smooth.
Pour into a greased 9 X 13-inch baking pan, and bake at 350 degrees for about 35 to 40 minutes or until toothpick inserted into center of cake comes out clean.
Allow cake to cool, and then use a straw or tip of wooden spoon handle to poke holes evenly over the cake.
In a medium sauce pan, heat 1 cup of evaporated milk, 2 tablespoons of brown sugar and the morsels on low heat, stirring frequently until the morsels are melted and mixture is thick.
Pour syrup over the cake and into the holes until completely saturated. Use any leftover syrup as a garnish when serving.
Refrigerate cake until ready to serve, and frost with whipped cream or whipped topping.
Garnish with additional morsels and fall sprinkles.