Place warm water in large warm bowl. Sprinkle in yeast; stir until dissolved. Add warm milk, butter, 2 tablespoons sugar, salt and 2 cups flour. Beat 2 minutes at medium speed of electric mixer. Add 2 eggs and 1/2 cup flour. Beat 2 minutes at high speed, scraping bowl occasionally. Stir in enough remaining flour to make soft dough. Knead on lightly floured surface until smooth and elastic, about 10 minutes. Place in greased bowl, turning to grease top. Cover; let rise in warm, draft-free place until doubled in size, about 1 hour.
Punch dough down; turn out onto lightly floured surface. Divide into 24 equal pieces. Shape each piece into smooth ball. Place in greased 2-1/2-inch muffin cups. Cover; let rise in warm, draft-free place until doubled in size, about 30 minutes. Brush top with egg mixture. Sprinkle 1/4 cup sugar and almonds over top. Bake at 375°F for 20 minutes or until done. Remove from pans; cool on wire racks.
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