MIX coconut and butter; press onto bottom of 9-inch springform pan.
BAKE at 350°F for 12 min. or until golden.
BLEND cream cheese and sugar using an electric mixer.
ADD eggs, one at a time, mixing well after each addition.
STIR in chocolate; pour into prepared crust.
BAKE at 450°F 10 min.; reduce heat to 250°F and continue to bake 30 to 35 min. until centre is almost set.
REMOVE from oven; run knife around rim to loosen and prevent cracking. Cool.
TOP with marshmallows and broil to toast until light golden. Arrange cherries on top.
MELT caramels with milk and drizzle over cake.