Open the biscuit dough and separate the biscuits. Cut each biscuit into 4 equal sections.
Dip each section into melted butter, then place in a large resealable plastic bag. Add the sugar and cinnamon, seal and shake until all of the biscuit pieces are covered.
Prepare a bundt pan with baking spray (make sure every spot is covered well!), then fill with the quartered biscuits, packing them in close together. Bake for 28-30 minutes, or until the biscuits are lightly golden and have puffed up.
While that is baking, prepare your glaze. Whisk powdered sugar, milk and vanilla extract together in a medium-sized mixing bowl.
Remove from oven and allow to cool for a minute or two.
Very carefully flip over the bundt pan onto serving plate.
Spoon glaze over the cake, covering it completely. Top with sprinkles.