Preheat oven to 350º.
Grease and flour a 10-inch tube baking pan. In a medium bowl cream together the butter and 1 cup of sugar. Beat in the eggs until the mixture is light and fluffy. In a separate bowl combine the sour cream and milk, and set aside. Sift together the flour, baking soda, and baking powder and add alternately with the sour cream mixture until well blended. Fold in the chocolate chips. Spoon half the batter into the prepared pan. Combine the cinnamon and ½ cup sugar and sprinkle half of the mixture over the batter. Spoon in the remaining batter and sprinkle with the remaining cinnamon mixture. Bake for 45 minutes. Cool on a wire rack.