HEAT oven to 350°F. Coat 12-inch fluted tube pan with no-stick baking spray. Prepare cake mix according to package directions using oil, 3 eggs and water. Pour into prepared pan.
BEAT cream cheese and flour in large bowl with electric mixer on medium, until light and fluffy. Add vanilla, sweetened condensed milk and remaining 2 eggs. Beat until smooth. Spread cream cheese mixture evenly over cake batter.
BAKE 60 to 65 minutes. Cool 1 hour. Remove from pan. Cool completely on wire rack.
PLACE cream cheese frosting in microwave-safe bowl. Microwave on HIGH 1 minute. Stir until melted and smooth. Pour over cake.