Preheat oven to 375 degrees. Set icing aside. Separate rolls into 16 pieces. Place rolls, cinnamon topping side up, in Deep Dish Baker (11 around edge and 5 in center).
Peel, core and slice apples and place on cutting board. Cut apples crosswise in half.
Place butter in microwave-safe bowl. Microwave on HIGH 30 seconds or until melted. Add apple slices. Gently stir until slices are evenly coated with butter.
Combine sugar and cinnamon and sprinkle over apples. Cover bowl and shake until apples are evenly coated. Place an apple slice between each biscuit and around outer edge of Baker.
Bake 30-33 minutes or until top is deep golden brown. Remove Baker to cooling rack.
Spread top of hot rolls with 1 container of icing. (Refrigerate second container of icing to frost graham crackers or for other use.) Serve warm.