Combine warm milk, melted butter, and granulated sugar in a large bowl; mix until well combined.

Sprinkle the active dry yeast over the mixture and allow it to rest for 5-10 minutes until bubbly.

In a separate bowl, mix together all-purpose flour, baking powder, and salt.

Once the yeast mixture is bubbly, add the flour mixture to it along with the egg, red food coloring, and vanilla extract; mix until combined.

Knead the dough until smooth and elastic.

Place the kneaded dough in a lightly greased bowl and cover with a cloth; let rise in a warm area for about 1 hour or until doubled in size.

In a bowl, mix the softened butter, brown sugar, and ground cinnamon together; set aside.

If adding chocolate chips, fold them into the filling mixture.

Once the dough has risen, punch it down to release air, then roll out on a floured surface into a large rectangle, about ½ inch thick.

Spread the prepared filling evenly over the dough, then roll tightly from the long edge into a log shape.

Cut the log into 12 equal pieces and place in a greased baking dish or baking sheet lined with parchment paper; cover and let rise for another 30 minutes.

Preheat oven to 350°F (175°C). Once risen, bake rolls for 25-30 minutes until golden brown.

In a mixing bowl, combine the softened cream cheese, softened butter, powdered sugar, and vanilla extract; mix until smooth.

Add milk 1 tablespoon at a time if the frosting is too thick to reach the desired consistency.

Remove the rolls from the oven and let cool for a few minutes, then spread cream cheese frosting over warm rolls.

Serve warm and enjoy!