Chocolate Filling
¾ c chocolate chips
2 t sugar
¼ c evaporated milk
1 t vanilla
¼ t cinnamon
Combine chips, sugar and milk in small saucepan. Cook over low heat, stirring constantly, until c mixture is smooth. Stir in vanilla and cinnamon. Set aside to cool.
Pastry
2-1/2 c flour
2 T sugar
½ t salt
1 package yeast
½ c milk
¼ c water
½ c butter
1 egg
Combine 1 c flour, sugar, salt and yeast in large bowl, set aside.
Combine milk, water, and butter in small saucepan; cook over low heat until 130 degrees; butter does not need to melt. Add gradually to dry ingredients, beat 2 minutes on medium. Add egg and ½ c flour; bet 2 minutes on high speed. Stir in enough additional flour to make a stiff dough. Cover and rest 20 minutes.
Turn dough out on to well-floured board and roll to 18x10 inch rectangle. Spread filling lengthwise down center third of dough. Cut 1-inch-wide strips diagonally along both sides of dough to within ¾ inch of filling. Alternately fold opposite strips at an angle across filling. Transfer to greased cookie sheet. Shape into ring, stretching slightly; pinch ends together. Cover loosely with wax paper brushed with oil; top with plastic wrap. Chill 2 hours to overnight.
Let dough stand, uncovered, and room temperature 10 minutes. Bake at 375 for 30-35 minutes or until lightly browned. Remove from cookie sheet and cool on wire rack. Brush with melted butter and drizzle with powdered sugar glaze.
Glaze
1 c powdered sugar
1 T butter
½ t vanilla
1-2 T milk
Beat sugar, butter, vanilla, and milk until glaze is smooth and of desired consistency.