Pour the milk mixture into a large bowl. Whisk in the eggs and vanilla, until combined.
Add the flour, baking powder, and salt, and mix until just combined (small lumps are ok). Let sit 5 minutes. While the batter is resting, preheat a waffle iron and grease if necessary.
Pour the batter into the hot waffle iron and cook according the waffle maker's directions. (For my waffle iron, one cup of batter cooked for 4½ minutes was perfect.)
To make the cream cheese topping, whisk together the cream cheese, sugar, and vanilla. To make the cinnamon topping, whisk together the brown sugar, butter, and cinnamon.
Drizzle the cream cheese topping and the cinnamon topping over the waffles