Make the cinnamon sugar:

1. In a small to medium sized mixing bowl, whisk together the sugar and cinnamon until well incorporated. Set aside.
2. Place the melted butter in a bowl that is large enough to accommodate a small ball of dough for dipping. Set aside for later.

Prepare the tangzhong:

1. In a small saucepan, add the flour, water, and milk, and whisk until smooth. Turn the heat to medium and continue whisking while it heats. Once the tangzhong has thickened (it should be thick enough that whisking leaves streaks), remove it from the heat to cool until just warm.

Make the dough:

1. In the bowl of a stand mixer with the dough hook attachment secured, add the flour, sugar, salt, yeast, milk, eggs, melted butter, and tangzhong. Knead with hook attachment for 15-20 minutes. The dough should be smooth but will also be very soft and slightly sticky.
2. Grease a mixing bowl with oil and place the dough inside, cover with plastic, and place into a warm place to rise for an hour or until doubled in size.
3. Meanwhile, preheat the oven to 350F. Prepare a 10-inch bundt pan with a generous amount of cooking spray.
4. After the dough has doubled in size, sprinkle a few tablespoons of the previously prepared cinnamon sugar onto a work surface. Next, punch the dough down, then invert it out of the bowl onto the sugared work surface. Press the dough into an 8 or 9-inch square, then use a pizza cutter to slice the dough into 64 pieces (8 rows and 8 columns).
5. Roll each piece into a ball, dip into the melted butter, and then roll in the cinnamon sugar. Transfer into the prepared bundt pan. Repeat with the remaining pieces of dough.
6. After all the dough has been added to the pan, lightly cover it with plastic cling wrap.  

Make the caramel sauce:

1. Now make the caramel sauce by placing the brown sugar and butter into a medium saucepan. Heat over medium heat, continuously whisking, until the mixture comes together and begins to lightly bubble.
2. Remove the plastic wrap from the bundt pan and immediately pour the hot caramel on top of the dough balls. Place into the oven to bake for 35-45 minutes.
3. When finished, allow the cake to cool in the pan for 5 minutes, then transfer out of the pan by inverting it onto a cooling rack or serving plate.

Add the glaze:

1. In a medium mixing bowl, add the confectioners’ sugar, and enough heavy cream to achieve glaze consistency, starting with 1 tablespoon at a time. Whisk until smooth, then drizzle over the warm monkey bread.