Preheat oven to 325 degrees F and spray all surfaces of a 12 cup nonstick bundt pan with nonstick cooking spray WITH FLOUR OR grease and flour the inside of your pan. Set aside.
Remove 2 tablespoons pure pumpkin from 15 oz. can pumpkin and set aside for glaze. Add remaining pumpkin, butter and sugars to mixer and beat until FLUFFY. Add eggs, one at a time, beating just until the yellow disappears after each egg.
In a medium bowl, whisk together flour, baking powder, baking soda, salt, cinnamon, nutmeg and cloves. Gradually add flour mixture to butter mixture in thirds, alternately with milk in between each third. Beat until just combined. Stir in chocolate chips and pecans just until combined then spoon batter into prepared pan. Tap pan on counter a few times to get rid of any air bubbles.
Bake until a wood pick inserted near the center of cake comes out clean, 55- 75 minutes at 325 F degrees (time will depend on pan, oven, etc. so check early then bake on if needed).
Let cake cool in pan for 10 minutes. Remove from pan, and let cool completely on a wire rack.
To prepare glaze, beat cream cheese, butter and 2 tablespoons pumpkin puree together until smooth. Add milk and cinnamon and gradually beat in powdered sugar, adding additional milk if necessary to reach desired consistency. Drizzle desired amount of glaze over cake and serve any remaining glaze with individual servings. I love to warm my cake with glaze in the microwave for 15 seconds or so – so good!