For the lollipops: Combine the sugar, corn syrup and 1/4 cup water in a medium saucepan over medium-high heat. Insert a candy thermometer and stir until sugar dissolves.
Allow to boil, without stirring, until mixture reaches 295 degrees F (hard-crack stage). Once the candy reaches 295 degrees F, remove it from the heat. Stir in the lemon extract and food coloring to desired color.
Spoon the candy onto a nonstick silicone sheet, making a quarter-size circle. Lay a lollipop stick on the syrup and press into the lollipop. Twirl the stick so it is completely coated in syrup. Continue until you have all the lollipops made.
Allow to cool completely. Set aside while you make the caramel.
For the caramel: In a heavy-bottomed saucepan over medium heat, combine the brown sugar, sweetened condensed milk, butter, corn syrup and salt. Bring to a boil, stirring constantly. Cook the caramel to 234 degrees F. Remove from the heat and stir in the vanilla and red food coloring. Allow to cool off the heat.
Dip the "suckers" until they are half coated in caramel. Put them back on the silicone baking sheet to set up. If the caramel is too thin, wait a few minutes to let the caramel set and re-dip the "suckers".
Store in a cool, dry container. Do not refrigerate.