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Preheat oven to 350°F. Lightly grease or line 24 muffin cups with paper baking cups. Set aside.
For the Cupcakes, beat cake mix, pudding mix, water, butter, eggs, cinnamon and vanilla in large bowl with electric mixer on low speed just to moisten, scraping sides of bowl frequently. Beat on medium speed 2 minutes. Spoon batter into prepared muffin cups, filling each cup 2/3 full.
Bake 20 minutes or until toothpick inserted into cupcake comes out clean. Cool in pans on wire rack 10 minutes. Remove from pans; cool completely.
For the Frosting, beat butter and vanilla in large bowl with electric mixer on medium speed until light and fluffy. Stir cinnamon into confectioners' sugar. Gradually add to butter mixture, beating until well blended after each addition and frequently scraping sides and bottom of bowl. Add milk; beat until light and fluffy. Frost cooled cupcakes with Frosting.