Grease two 9-inch-round baking pans.
Roll out 1 bread loaf into 16 x 10-inch rectangle on lightly floured surface.
Combine sugar and cinnamon in small bowl; sprinkle 2 tablespoons over dough leaving 1/2-inch border around sides.
Sprinkle with 1 cup morsels and 1/2 cup nuts.
Roll up the 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.
Bake for 25 to 30 minutes or until deep golden brown.
Cool slightly in pans on wire racks.
In a small bowl combine the powdered sugar and milk and mix into a stiff glaze.
Drizzle over warm cinnamon rolls.
