Heavily grease and flour a 12-cup Bundt pan. Set aside.
Combine first 7 ingredients in a large mixing bowl. Beat at low speed with an electric mixer just until combined. Beat at high speed 2 minutes. Pour batter into prepared pan.
Bake at 350° for 50 minutes or until a long wooden pick inserted in center comes out clean. Cool in pan on a wire rack 15 minutes; remove from pan, and cool on wire rack.
Place cake on a serving plate. Stir together powdered sugar and enough milk to make glaze a good drizzling consistency. Drizzle glaze over cake, and sprinkle with crushed candies.