PREHEAT oven to 300° F.
COMBINE butter, sugar and cinnamon in medium bowl. Add crumbs; toss until crumbs are moistened. Press onto bottom of ungreased 9-inch springform pan. Bake for 10 minutes. Cool on wire rack.
HEAT 1 2/3 cups morsels and cream in medium, heavy-duty saucepan over low heat, stirring until smooth. Cool for 15 minutes.
BEAT cream cheese in large mixer bowl until fluffy. Beat in morsel mixture and vanilla extract. Stir in eggs. Heat 1 cup caramel apple dip in small saucepan over medium heat for 2 to 3 minutes or just until slightly softened. Remove from heat. Stir in 1 cup cheesecake mixture. Alternately spoon cheesecake and caramel mixtures into prepared pan, ending with caramel. Swirl gently with knife.
BAKE for 55 to 60 minutes or until edge is set but center still moves slightly. Turn off oven and let cheesecake stand in oven for 1 hour. Remove from oven. Let cool on wire rack for 15 minutes. Run knife around edge of cheesecake. Cool completely. Refrigerate for at least 4 hours or overnight.
MICROWAVE remaining caramel apple dip and remaining morsels in uncovered, small microwave-safe bowl on HIGH (100%) power for 30 seconds. STIR. Morsels may retain some of their original shape. If necessary, microwave at additional 10- to 15-second intervals, stirring just until morsels are melted. Drizzle sauce over cheesecake slices.