Cut cream cheese into 20 pieces; set aside. Combine the Bisquick with the milk in a large bowl and briefly knead the dough while still in the bowl. Divide the dough into 20 pieces. Pat each piece into a 2-1/2- to 3-inch round. Combine the 1/4 cup sugar with the cinnamon.
Place a cream cheese ball in the center of each round of dough. Put 1/4 teaspoon of the cinnamon-sugar on each round. Bring up edges of dough around cream cheese and seal.
Pour 3 tablespoons of the melted butter into the bottom of a 5-1/2-cup ring mold; rotate mold to coat sides. Sprinkle half of the remaining cinnamon-sugar mixture into the bottom of the mold.
Roll filled biscuits in the remaining butter and place half of the biscuits seam side up on top of the cinnamon sugar. Sprinkle remaining cinnamon-sugar on top of the biscuit balls and top with the remaining biscuit balls, placing them seam side down.
Bake at 375 degrees for about 25 minutes or until browned. Cool 5 minutes and invert onto plate; remove pan. Pour honey over the ring for extra sweetness.