The Scots host the Dragons in World Cup qualifying at Hampden Park with Wigan Athletic centre-back Caldwell identifying Tottenham winger Bale as the visitors' danger man.
"It can be done. We went to White Hart Lane with Wigan this year and won 1-0 and we stopped him as a team. That's the key to it," said Caldwell.
"He's one of the best in the world when he gets players one-on-one. But as a team, I think we can stop him.
"We have spoken about it as a team this week and gone into detail about how we are going to do that and we will be ready for him."