Mix first four ingredients in a bowl. Add milk and mix until a dough. Roll out on floured board to 8x10.
Spread soft butter on entire surface of dough. Sprinkle with sugar and cinnamon. Add nuts and chocolate chips and press down into dough. Starting at short end, carefully roll up and then cut into rolls and lay flat in a buttered pan. Bake at 350* for thirty minutes. Rest for five minutes before removing from pan. Drizzle with frosting made from 1 cup confectioners sugar, 1 tab. melted butter, vanilla and enough milk to make your desired consistency.