• Combine 2 cups flour, sugar, undissolved yeast and salt in a large mixing bowl. Heat water, milk and 5 tablespoons butter until very warm (120° to 130°F); stir into flour mixture. Stir in eggs and enough remaining flour to make soft dough. Knead on lightly floured surface until smooth and elastic, about 6 to 8 minutes. Cover; let rest on floured surface 10 minutes. 
• Divide dough into 32 pieces; roll into balls. Melt remaining 3 tablespoons butter; dip balls in butter. Stir together sugar, cinnamon and brown sugar. Layer 1/3 of the cinnamon sugar mixture in the bottom of a greased bundt pan, then 1/2 of the dough balls, followed by another 1/3 of the cinnamon mixture, remaining dough balls, and lastly the remaining cinnamon mixture. 
  
• Cover and let rise in warm, draft-free place until doubled in size, about 30 to 40 minutes. (To speed this up you can preheat the oven, then turn it off and set the covered bundt pan on the open door until doubled in size). 
• Bake at 375°F for 30 to 35 minutes or until done, covering with foil during last 10 minutes to prevent excess browning. Let cool in pan on rack for 10 minutes. Invert onto serving plate and top with glaze.  

To Make the Glaze

• Cream together all glaze ingredients. As milk as needed to thin to pourable consistency. Pour over warm monkey bread and serve.