Combine streusel ingredients of brown sugar, cinnamon and allspice in small bowl. Cut in butter with two knives until mixture is crumblyand fold in the nuts if using. Set aside.
In a large mixing bowl, combine the cake ingredients. Beat on low speed for 30 seconds; beat on medium for 4 minutes.
Pour half the batter into a greased and floured 10-in. fluted tube pan. Sprinkle streusel over the center of the batter, not touching the sides of the pan. Top streusel with remaining cake batter.
Bake 50-55 minutes or until a wooden pick inserted near the center comes out clean. Cool in pan for 15 minutes before removing to a wire rack to cool completely. While cooling, make glaze by beating cream cheese in a small bowl at medium speed for 2 minutes or until very creamy. Slowly beat in powdered sugar, then vanilla. Beat in 3 tablespoons milk Add more milk if needed to get desired consistency for drizzling. When cake is cooled, drizzle with glaze and serve.