In a large, microwave-safe bowl, mix milk, water, and butter together. Microwave just until butter is melted and mixture is warm.
Add flour, sugar, yeast, and egg.
Using a stand mixer (or by hand), stir until uniform dough forms.
Continue kneading the dough with your hands on a floured surface for about 2-3 minutes.
Place the ball of dough in a bowl that has been sprayed with non-stick cooking spray. Cover loosely and allow to rest for about 15 minutes.
When done, roll dough out on a floured surface until it is about 8 inches by 10 inches in size.
To make the filling, spread softened butter evenly over the top of the rolled out dough.
Sprinkle light brown sugar and cinnamon on top of the butter layer.
Roll the dough tightly starting with the short side.
Cut the roll into 6 pieces and arrange them in a pan that will fit into the basket of your air fryer. Make sure the pan has been sprayed with nonstick cooking spray. Cover the pan tightly with plastic wrap.
Allow rolls to rise in a warm place for about 60-75 minutes (or until the rolls have doubled in size.)
When rolls are ready, preheat your air fryer to 320 degrees F. Remove plastic wrap from the baking pan and place the pan into the basket of your air fryer.
Bake until the rolls are light golden brown. (approximately 8-9 minutes.) Air Fryers do vary by type and brand so it’s important you keep an eye on the rolls. Some air fryers might bake really fast while others might take longer.
While rolls are baking, prepare icing. Place all ingredients in a medium mixing bowl and beat together until smooth.
Drizzle icing over warm rolls and serve.
Notes
Make sure you preheat your air fryer before placing the rolls in.
These will need to rise for at least an hour.
Add things to the center of your rolls, see some of my suggestions above.
If you do not like a cream cheese icing, you can make powdered sugar a milk glaze.