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Preheat oven to 350°F. For the Cake, grease and flour 10-cup Bundt pan. Set aside. Beat cake mix, coconut milk and egg whites in large bowl with electric mixer on low speed just to moisten. Beat on medium speed 3 minutes. Pour batter into prepared pan.
Bake 35 minutes or until toothpick inserted in center comes out clean. Cool in pan 10 minutes. Invert cake onto wire rack. Cool completely.
For the Glaze, mix all ingredients in medium bowl until smooth. If necessary, stir in 1 to 3 additional teaspoons water until glaze is of desired consistency. Drizzle glaze over cooled cake. Let stand until glaze is set.