Roll our each loaf of bread dough into a 10 inch square. Spread with butte to within 1/2 inch of edges. Combine sugar and cinnamon;sprinkle over butter. Roll up jelly roll style; pinch seams to seal. Cut each loaf into six slices.
For sauce,in a small saucepan, bring the brown sugar,butter,water and molasses to a boil. Pour into greased 13x9 baking dish. Place rolls,cut side down, in molasses sauce.
Cover and let rise in a warm place until doubled, about 30 minutes. Bake at 350 for 25-30 minutes or until golden brown. Cool in dish for 5 minutes; invert onto a serving platter. Serve warm.