In a large bowl, combine milk, eggs and cinnamon. Pour over waffles. Cover and refrigerate over night.
For blueberry syrup, place blueberries, water and sugar in a medium saucepan. Cook over medium-low heat, stirring constantly, until thick and reduced.
Bake waffle egg bake in 350 degrees F oven for 30-35 minutes. Top with blueberry syrup.