Grease two 9-inch-round baking pans.
Roll one bread loaf into 16 x 10-inch rectangle on lightly floured surface. Combine sugar and cinnamon in small bowl; sprinkle 2 Tbsp over dough leaving 1/2-inch border around sides. Sprinkle with 1 cup morsels and 1/2 cup nuts.
Roll up dough starting at short end; seal edges. Cut into 6 slices; place cut side up in prepared baking pan. Repeat with remaining bread loaf, sugar mixture, morsels and nuts; place in second prepared baking pan. Cover; let rise in warm place until dough almost fills pans.
Preheat oven to 350° F.
Bake for 25 to 30 minutes or until deep golden brown. Cool slightly; drizzle with Glaze.
For Glaze: Combine powdered sugar and milk to make a stiff glaze.Servings: 12 rolls