In a large bowl dissolve yeast in warm water. Add milk, butter, sugar, eggs, salt and half of the flour (2 1/2 cups) Beat on medium speed for 3 minutes. Stir in remaining flour until it forms a firm dough. Turn onto a floured surface and knead until smooth and elastic (about 7-8 minutes).
Place in greased bowl and turn over to get the whole dough ball greasy. Cover and let rise for about an hour or until dough doubles in size.
In a saucepan, combine brown sugar, butter, and cream and bring to a boil. Stir for about 3 minutes until it's nice and melted together. Pour half of the caramel sauce into a greased fluted pan. If you are using pecans, add half of them to the pan as well.
When dough is done, punch it down and form into 35-40 balls. In a pie pan or shallow bowl, combine sugar and cinnamon. Place melted butter in another bowl. Dip balls in butter, then roll in cinnamon/sugar mixture. Arrange dough balls into the fluted pan.
Pour the remaining caramel sauce evenly on top of the dough balls.
Bake at 350 degrees for 30-35 minutes or until golden brown (if they are browning too fast you can loosely cover it with tin foil). Cool for 10 minutes, then turn up-side down onto a serving plate.