In a large bowl, add the cream cheese, powdered sugar, milk, and 1 teaspoon of vanilla. Mix with a whisk or hand mixer until smooth. Set aside until ready to use.
On a cutting board, cut the crusts off the bread. Lay out 5 pieces of bread so they are slightly overlapping, then press the overlapping edges together to adhere. Repeat with the rest of the bread, you will have 7 strips of 5 pieces of bread.
In a small bowl, melt ¾ cups of butter. Add the granulated sugar and cinnamon and stir to combine.
Brush the cinnamon butter mixture on one of the strips of bread.
Spread the cream cheese filling on the strip of bread. Repeat with the rest of the strips of bread.
Roll up one of the strips of bread, take that roll and roll it on to another strip of bread. Repeat until all of the strips have been rolled up into one large roll.
In a small saucepan over medium heat, mix together the remaining ¾ cup (170 g) butter, brown sugar, salt, remaining teaspoon vanilla, and honey until melted. Remove from heat.
Pour ⅔ of the caramel mixture into an 8-inch (20 cm) round cake pan. Sprinkle the pecans on top of the caramel. Place the bread roll inside the pan on top of the caramel. Pour the rest of the caramel over the top of the roll.
Bake for 40 minutes, until the top is crisp.
Place a large plate over the top of the cake pan. Using oven mitts, invert the roll onto the plate, and remove the cake pan.
Let cool for about 10 minutes before slicing.
Serve immediately, with vanilla ice cream if desired!