In a small bowl, dissolve yeast in warm water. In a bowl, combine the flour, 1 tablespoon sugar and salt. Cut in 2 tablespoons of the butter until crumbly. Add the milk, egg yolk and yeast mixture; stir well. Cover with plastic wrap; refrigerate for at least 4 hours or overnight.
Turn dough onto a lightly floured surface. Roll out into a 10-in. x 6-in. rectangle. Melt remaining butter; brush butter to within 1/2 inches of edges. Combine the brown sugar, cinnamon and remaining sugar. Sprinkle over dough, then sprinkle with chocolate chips. Roll up jelly-roll style, starting with a short side; pinch seam to seal. CUt into 1-in. slices; place cut side down in a greased 8-in. square baking dish. Cover and let rise in a warm place until doubled, about 1-1/2 hours.
Bake at 375° for 15-18 minutes or until golden brown. In a bowl, combine the confectioners' sugar, butter, vanilla and enough milk to achieve drizzling consistency; drizzle over warm rolls. Serve warm.
NOTE: Rolls may be frozen for up to 2 months. Reheat in the microwave before serving if desired.