Yes, you can absolutely make a larger batch. You are limited by the size of your pot. Be sure to account for the caramel bubbling up when the cream and butter are added. I don’t need to tell you what happens if you don’t. That being said, I prefer to make large batches of caramel with the wet caramel method because it is more consistent. Lastly, you must account for carryover cooking when making large batches of caramel. It will continue to caramelize as it cools. I suggest pouring it into a long, flatter container like a baking dish that will increase the surface area and thus allow it to cool faster.