Using a hand mixer or stand mixer, beat together cream cheese, powdered sugar, and milk until smooth. Set aside.

Heat the waffle iron and spray with non-stick spray. Place one cinnamon roll in the center of the waffle maker and close it. Cook for 2 to 3 minutes, or until waffle is cooked through and golden brown.

Repeat until all waffles are cooked. Serve warm and drizzle with cream cheese sauce!