Cook and stir 1 cup sugar in small saucepan on medium heat 5 min. or until completely dissolved and deep golden brown in color. Immediately pour into 9-inch round pan; tilt pan to evenly cover bottom with syrup.
Blend milk and cream cheese in blender until smooth.
Add 1 cup of the remaining sugar, eggs, pumpkin and salt; blend well.
Pour over syrup in pan; cover with foil.
Place pan in larger pan.
Add enough water to larger pan to come halfway up side of filled pan.
Bake 50 to 55 min. or until knife inserted in center comes out clean.
Remove flan from water-filled pan; place on wire rack. Cool completely. Refrigerate 4 hours.
Meanwhile, bring remaining sugar and 2 Tbsp. water to boil in small saucepan; cook 5 min. or until golden brown, stirring occasionally.