HEAT oven to 350 degrees F. Butter eight individual 6-ounce custard cups. Line a large baking or roasting pan with a doubled paper towel. Set aside. Bring 5 cups of water to boiling in a medium pan. Place 1 tablespoon topping into each custard cup.
BEAT together cream cheese, sugar and vanilla with an electric mixer until smooth. Beat in eggs, one at a time, until smooth. Blend in milk. Divide egg mixture evenly into 8 custard cups. Place cups in prepared pan. Pour boiling water carefully into the larger pan, to a level halfway up the sides of the custard cups.
BAKE 35 to 40 minutes or until a paring knife inserted halfway between pan and center of filling comes out clean. Do not overcook. Remove cups from hot water bath and cool on rack for 1 hour or until room temperature. With a sharp thin knife, loosen edge of custard. Invert cups onto individual serving plates. Let stand a few seconds. Remove cup and spoon remaining topping in the bottom of the cup over custard. Sprinkle with nutmeg.
CREME CARAMEL: Replace Buttersctoch topping with Smucker's Hot Caramel Topping and omit the nutmeg.