Mix yeast, sugar and warm water together. Set aside
Combine 1/2 cup butter and 1/2 cup sugar. Add hot milk and stir until butter is melted. Add to yeast mixture.
Add 2 cups flour and beat until smooth; beat in eggs. Add remaining flour to make a soft dough. Place in greased bowl, turning to grease the top. Cover and let rise in warm place until doubled in bulk, about 1 hour.
Melt remaining 1 cup butter and place in a small bowl. Place remaining sugar in a small bowland mix with 1 1/2 teaspoons of ground cinnamon. Place nuts in a small bowl.
Divide dough into fourths. Shape each fourth into 12 inch rolls. Divide each roll into 12 pieces, and shape each piece into a 7-inch rope. Dip each into melted butter, then sugar & cinnamon mixture, then butter, then chopped nuts. Fold each rope into half; twist to make a braid. Place on greased baking sheet and cover. Let rise until double, about 20 minutes.