First, I like to slice off the outer edges of each of the cake layers using a perforated knife (or even a pizza cuter) and a round tupperware top or cardboard cutout as a guide. It’s important to wait to trim the cakes this way until just before ready to frost them, as the exposed edges will dry out if left uncovered for too long.
Smear a dollop of the room temperature buttercream onto the center of cake plate or server to secure the cake and center one cake layer atop the buttercream dollop. Using a pastry or zip-lock bag, follow the edges of the cake and pipe a ring of buttercream on top of the layer. Measure out 1/3 cup of the buttercream (from the bowl) and spoon onto the center of the layer. Using a small, angled spatula, push the buttercream out towards the ring of piped buttercream until it has been spread into an even layer covering the top of the cake. Add the second layer of cake on top of the layer of buttercream, pipe another ring of buttercream, and measure and spread 1/3 cup of the frosting into another even layer. Continue this process until the sixth layer of cake has been stacked and covered in buttercream. Slip a few small strips of parchment paper under the bottom layer of the cake to catch any drips of buttercream. Spread the remaining buttercream from the bowl onto the sides of the cake into an even layer. Once the entire cake has been evenly covered in buttercream, transfer cake to the refrigerator to cool and slightly harden the buttercream while you prepare the caramel and seventh cake layer.
Using the back edge of a large knife, score the seventh layer of the cake into 8 or 12 portions, making grooves into the cake but not cutting all the way through. Lay the scored cake onto a layer of parchment paper and prepare the caramel as directed above. Pour the hot caramel evenly onto the cake layer and spread using a buttered spatula until the layer has been fully covered by the caramel. Before the warm caramel cools and hardens, use a large, buttered knife to slice the caramel-covered cake into slices along the score marks. Re-buttering the knife as needed, trim off any excess caramel that has spread outside the cake. Allow caramel-covered cake slivers to cool completely before topping the frosted, assembled cake.
Once the frosted cake has cooled and hardened slightly, remove it from the fridge. Using an angled spatula dipped in very hot water, smooth out any imperfections in the buttercream, making a even surface for decorating. Remove parchment strips from the bottom of the cake.
Transfer any extra buttercream to a pastry or zip-lock bag with a decorative tip and pipe a border on the bottom and/or top edges of the cake, or decorate however you wish. Depending upon how many slices the caramel-cake layer has been sliced into, I would suggest piping the same number of buttercream dollops or rosettes onto the top of the frosted cake to serve as little pillows for the caramel-cake slivers. Arrange the slivers on top of the cake, resting them on the rosettes. Pipe one final rosette in the center of the cake, if desired, and serve.
For step by step pictures, come to my blog: http://pumpercake.com/2011/04/22/seven-layer-cake/