Instructions

1. For the dough: Whisk flour, yeast, and salt together in bowl of stand mixer. Whisk milk, water, sugar, and melted butter in 4-cup liquid measuring cup until sugar has dissolved. Using dough hook on low speed, slowly add milk mixture to flour mixture and mix until cohesive dough starts to form and no dry flour remains, about 2 minutes, scraping down bowl as needed. Increase speed to medium-low and knead until dough is smooth and elastic and clears sides of bowl but sticks to bottom, 8 to 10 minutes.
Transfer dough to lightly floured counter and knead by hand to form smooth, round ball, about 30 seconds. Place dough, seam side down, in lightly greased large bowl or container, cover tightly with plastic wrap, and let rise until doubled in size, 1½ to 2 hours. (Unrisen dough can be refrigerated for at least 8 hours or up to 16 hours; let sit at room temperature for 1 hour before shaping in step four.)
For the brown sugar coating: Line slow cooker with aluminum foil collar, then press 2 double-layered large sheets of foil into slow cooker perpendicular to one another, with extra foil hanging over edges. Lightly coat prepared slow cooker with vegetable oil spray. Combine sugar and cinnamon in bowl. Place melted butter in second bowl.
Transfer dough to lightly floured counter and press into rough 8-inch square. Using pizza cutter or chef's knife, cut dough into 6 even strips. Cut each strip into 6 pieces (36 pieces total). Cover dough pieces loosely with greased plastic.
Working with a few pieces of dough at a time (keep remaining pieces covered), dip pieces in melted butter, then roll in sugar mixture to coat. Place coated pieces in prepared slow cooker, staggering seams where dough balls meet as you build layers. Once dough is layered, sprinkle remaining sugar mixture on top.
Cover and cook until dough is set and registers 190 degrees, 2 to 4 hours on high. (Top of monkey bread will be pale and slightly tacky to touch.) Using foil sling, transfer monkey bread to wire rack and let cool for 20 minutes.
For the glaze: Whisk sugar and milk in bowl until smooth. Invert monkey bread onto serving dish; discard foil. Drizzle glaze over bread, letting it run down sides. Serve warm.