PREHEAT oven to 350°F Place 1 cup of the sugar in small heavy saucepan; cook on medium heat until sugar is melted and deep golden brown, stirring constantly with wooden spoon. Remove from heat. Immediately pour into 9-inch round baking pan; tilt pan to evenly cover bottom of pan with syrup. Set aside.
PLACE milk and cream cheese in blender; cover. Blend until smooth. Add remaining 1 cup sugar, the eggs, vanilla and salt; cover. Blend just until smooth; add cajeta and pour into prepared baking pan. Place filled baking pan in larger baking pan; add enough hot water to larger pan to come halfway up side of smaller pan.
BAKE 50 minute to 1 hour or until knife inserted near center comes out clean. Cool. Carefully remove flan from water. Cool on wire rack.
REFRIGERATE several hours or unti chilled. When ready to serve, run a knife around the edge of the pan. Then, invert pan onto serving plate to unmold flan. Store any leftovers in refrigerator. If you have trouble getting the caramel out of the pan, place the bottom of the pan in hot water and then spoon the caramel on the flan.