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Cut each biscuit into quarters. Mix sugar and cinnamon in medium bowl. Add biscuit pieces, in batches; toss to coat. Place half the biscuit pieces in greased 12 cup fluted tube pan; drizzle with half the butter. Repeat. Sprinkle with any remaining cinnamon - sugar. Bake 40 to 45 minutes or until toothpick inserted near center comes out clean and top is golden brown. Cool in pan 5 minutes; invert onto serving plate. Remove pan. Beat cream cheese and powdered sugar in small bowl with mixer until well blended. Add 1 Tablespoon milk; beat until well blended. Blend in enough of the remaining milk until glaze is of desired consistency. Drizzle over warm bread.
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