Set the Rhodes rolls out to thaw until soft (around 1 hour). Once they have thawed split each roll in half. I use kitchen shears to split them in half easily. Preheat oven to 350 degrees. Mix brown sugar and cinnamon in a medium bowl and in a separate bowl mix rum extract with the butter. Dip each roll into the butter and then roll the roll in the brown sugar mixture. Place each roll into a bundt pan that's been greased or sprayed with cooking spray. Cover with a piece of plastic wrap that's been coated with cooking spray and let the rolls rise in the bundt pan until they double in size (2-3 hours). Bake at 350 for 30 to 35 minutes. (cover with foil the last 15 minutes). Immediately after removing from the oven, carefully release edges and center tube with a knife. Invert onto a serving plate.
For the glaze:
Combine everything in a medium sized bowl. You may need more milk to make it a pourable consistency. Drizzle glaze on the Monkey Bread and enjoy!