Preheat oven to 350 degrees. Prepare a bundt pan by spraying it with non-stick cooking spray. Set aside. Mix together the cinnamon and sugar. On a cutting board separate the biscuits. Sprinkle each biscuit top with cinnamon & sugar mixture. Place a cube of cream cheese in the center of each biscuit and fold the edges in. Rolling the buscuits between your hands to form a small ball.
Once all the biscuits are filled and rolled into balls, put into a large ziploc bag. Pour in the rest of the cinnamon mixture and shake to coat the buscuits.
In a saucepan, melt together the butter and brown sugar until combined - don't burn it. First, scatter the chopped walnuts around the bottom of the bundt pan. Then place half of the biscuit balls in the pan evenly spacing. Cover these with the butter and brown sugar mixture. Sprinkle with half of the DRY butterscotch pudding mix. Then add the remaining biscuit balls and coat with cinnamon mixture again and top with remaining pudding mixture.
Bake in the oven on the middle rack for 40 to 50 minutes until the biscuits have plumped up and gotten golden brown. Serve warm with your favorite hot chocolate or coffee.