Preheat your oven to 350 degrees and prepare a bundt cake pan with nonstick baking spray.
Separate the crescent roll dough into triangles and place the triangles into the bundt pan with the wide edge to the outside of the pan and the points towards the center, slightly overlapping them as you go. Gently press the rolls together at the bottom of the pan and make sure there are no gaps.
In a mixing bowl, beat together the cream cheese, brown sugar, confectioners sugar, butter, cinnamon and vanilla until it is creamy and smooth. Drop the filling by spoonfulls into the prepared dough and then spread with the back of the spoon to even it out.
Fold the ends of the crescent roll dough over the top of the filling. Now is the time to place the baby in part of the layers of crescent rolls. Pinch the edges of the dough to seal them.
Bake the king cake at 350 degrees for 23-27 minutes or until it is golden brown. Remove to a wire rack to cool for 5 minutes before turning the cake out onto a serving plate to cool completely.
When the cake has cooled, make the glaze by whisking together the confectioners sugar, milk, and almond extract. If your glaze is too thick, add a bit more milk. If it's too thin, add a bit more confectioners sugar. Drizzle the glaze over the cake and then sprinkle with colored sugar to decorate.