How to expand a CMD shell variable twice (recursively)

Thinking in terms of a less tortuous solution, this, too, produces the CCC you desire.

setlocal enabledelayedexpansion
set AAA=BBB
set BBB=CCC
for /F  %%a in ('echo %AAA%') do  echo !%%a!

edit:

to dissect this answer:

setlocal enabledelayedexpansion - this will allow for any environment variable setting during your bat to be used as modified during the process of your for loop.

set AAA=BBB, set BBB=CCC - your data population set statements

for /F %%a in ('echo %AAA%') do echo !%%a! - This tells the processor to loop, albeit only once, and take out the first token that is returned (default delimiter of space and tab apply) from the running of the command in the parens and put it in the var %%a (outside of a batch, a single % will do). If you specify that var as %%a, you need to use %%a in your do block. Likewise, if you specify %%i, use %%i in your do block. Note that to get your environment variable to be resolved within the do block of the for loop, you need surround it in !'s. (you don't need to in the in block, as I originally posted - I have made that change in my edit).

edit:

You were very close with your updated example. Try it like this:

@echo off
setlocal enabledelayedexpansion
set LIST=BBB CCC DDD
set BBB=111
set CCC=222
set DDD=333

for %%i in (%LIST%) do (
    for /F %%a in ('echo %%i') do echo !%%a!
)

The difference between your update and this is that you were trying to echo the environment variable in the in set with in ('echo %%%i%'), but without the !'s for the delayed expansion of set variables. Were you to use in ('echo !%%i!'), you would see your BBB, CCC, and DDD variables resolved, but then the do block of your inner loop wouldnt have anything to resolve - you dont have any 111 environment variables. With that in mind, you could simplify your loop with the following:

@echo off
setlocal enabledelayedexpansion
set LIST=BBB CCC DDD
set BBB=111
set CCC=222
set DDD=333

for %%i in (%LIST%) do (echo !%%i!)

How to expand a shell variable multiple times:

@echo off
setlocal enabledelayedexpansion

set myvar=second
set second=third
set third=fourth
set fourth=fifth

echo Variable value before expansion: !myvar!
call :expand myvar
echo Variable value after expansion: !myvar!
goto :eof


:expand
    set var=%1
    :expand_loop
        if not "!%var%!" == "" (
            set var=!%var%!
            goto :expand_loop
        )
        set %1=!var!
    goto :eof

output:

Variable value before expansion: second
Variable value after expansion: fifth