Place a greased 9-in. springform pan on a double thickness of heavy-duty foil (about 18 in. square). Securely wrap foil around pan.
In a small bowl, combine cracker crumbs and sugar; stir in butter. Press onto the bottom of prepared pan. Place pan on a baking sheet. Bake at 325° for 10 minutes. Cool on a wire rack.
In a small bowl, whisk the milks and pudding mix for 2 minutes. Let stand for 2 minutes or until soft-set.
Meanwhile, in a large bowl, beat cream cheese until smooth. Beat in pudding and vanilla. Add eggs; beat on low speed just until combined. Pour over crust. Place springform pan in a large baking pan; add 1 in. of hot water to larger pan.
Bake at 325° for 65-75 minutes or until center is almost set and top appears dull. Remove springform pan from water bath. Cool on a wire rack for 10 minutes.
Carefully run a knife around edge of pan to loosen; cool 1 hour longer. Refrigerate overnight. Garnish with whipped cream and butterscotch candies if desired.