LIGHTLY crush cereal in zipper-style plastic bag. Add 2/3 cup of the sugar; shake to mix well. MIX remaining 2/3 cup sugar and butter in small bowl.
CUT each biscuit into quarters. Dip, a few at a time, in butter mixture. Add to cereal mixture; shake to coat well. Place in greased 12-cup fluted tube pan or 10-inch tube pan. Sprinkle with any remaining cereal mixture. Drizzle with any remaining butter mixture.
BAKE at 350°F for 45 minutes or until golden brown. Cool in pan 10 minutes; invert onto serving plate. Serve warm.
Add 1/2 tsp. cinnamon to the bag with sugar.