Set oven temp to 325F
Place the cream cheese in a large bowl or stand mixer. Using the stand mixer or an electric mixer, beat the cream cheese until it is smooth. Add the sugar, flour and vanilla and beat until combined and smooth. Add the eggs one at a time, beating only until combined. Be careful to not overmix. Add the whole milk and mix just until combined.
Mix 1/2 cup of the cheesecake batter and 1/2 cup dulce de leche and mix until fully combined.
Place the springform pan with the cooled crust into a larger dish with sides that go up at least 1 inch. Pour the remaining cheesecake batter into the springform pan. Dollop with the dulce de leche batter and gently swirl with the tip of a knife or a skewer.
Place the cheesecake in the oven, then add the water carefully into the dish surrounding the cheesecake. Bake until the edges of the cheesecake are set, but the center should still be a bit jiggly about 55-60 minutes.
Turn off the oven and prop the door open slightly. Leave the cheesecake in the oven to gradually cool for an hour. Carefully remove the cheesecake from the oven, adding extra caution with the surrounding water.
Run a sharp knife around the edge of the cheesecake, then cover the cheesecake and refrigerate until completely cold, at least 4 to 6 hours, but preferably overnight.
Slice and have with a scoop of dulce whipped cream and a drizzle of caramel. Enjoy!