In a small saucepan, stir milk, sugar, and butter together. Heat over low heat just until butter melts and sugar dissolves. Cool to about 100-105 F.
Pour the milk mixture into the bowl of a stand mixer.
Add the yeast and warm water.
Add 2 cups flour and salt to yeast mixture. Using a dough hook, mix on low speed for about 1 minute.
With the mixer still going, add remaining flour, 1/2 cup at a time. Mix about 1 ½ minutes, or until dough starts to clean the sides of the bowl.
Knead on low speed for about 2 more minutes, or until dough is smooth and elastic – the dough will still be slightly sticky to the touch.
Place dough in a greased bowl, turning it to grease the top. Cover the dough with a clean, dry dish towel.
Let it rise in a warm place, free from draft, for about 10 minutes.
Combine granulated sugar and cinnamon for filling in a small dish.
Divide dough into small balls, and roll in cinnamon sugar mixture. The smaller the balls, the more cinnamon sugar coating they'll have.
Place balls in layers in prepared bundt pan.
In a sauce pan, combine 1/2 cup of the remaining sugar cinnamon mixture with brown sugar and butter.
Bring mixture just to a boil and then immediately remove from heat.
Carefully pour the mixture over the dough balls in the pan.
Cover, and let rise for 15 minutes.
Preheat oven to 325 F, and place rack in the lower third of oven.
Uncover, and bake for 25-35 minutes, or until golden brown.
Run a thin knife around the outside of the pan.
Invert and unmold onto platter.
To make the glaze, mix melted butter, powdered sugar, and enough milk to make a pourable glaze.
Drizzle glaze over warm bread, and break into pieces to serve.
Notes
Anything from skim to whole milk will work. Whole milk will give you a richer dough.
If you would like to use active dry yeast, prepare through step 4. Let the mixture sit for 5-10 minutes, or until it foams. Then, continue with the recipe as-written.