Dissolve yeast in warm water; let stand 5 minutes or until bubbly. Combine warm milk and yeast mixture in a large bowl. Add 2 cups flour; stir until smooth. Cover and let rise in a warm place (85°), free from drafts, 1 hour or until doubled in bulk.
Add eggs, butter, sugar, salt, and enough remaining flour to make a soft dough, stirring until well blended.
Place dough in a greased bowl, turning to grease top. Cover and repeat rising procedure 1 hour.
Turn dough out onto a floured surface, and knead 3 to 4 minutes or until smooth. Roll dough to 1/2-inch thickness; cut with a 2-inch biscuit cutter. Place biscuits on greased baking sheets. Cover and repeat rising procedure for 1 hour or until doubled in bulk. Bake at 425° for 10 minutes or until biscuits are lightly browned.