Place hazelnuts in a shallow baking pan in a single layer. Bake in a 350 degree F oven about 8 minutes or until toasted, stirring once; cool. Reduce oven temperature to 325 degree F.
Place toasted nuts in a food processor bowl. Cover; process until nuts are coarsely chopped. Add broken graham crackers and the 1/4 cup sugar. Cover and process until graham crackers are in fine crumbs. Add melted butter; cover and process until combined. Press hazelnut mixture onto the bottom and 1 inch up the side of the prepared pan. Bake crust in the 325 degree F oven for 10 minutes. Cool in pan on a wire rack.
For filling, in a large bowl, beat cream cheese and the 1-1/4 cups sugar with an electric mixer on medium to high speed until combined. Add eggs all at once; beat on low speed just until combined. (Do not overbeat.) Stir in white chocolate and liqueur or milk. Pour filling into the crust-lined pan. Place on a shallow baking pan.
Bake in the 325 degree F oven for 55 to 60 minutes or until center appears nearly set when shaken. Cool in pan on wire rack for 15 minutes. Loosen crust from side of pan; cool 30 minutes more. Remove side of the pan; cool cheesecake completely (top of cheesecake may crack during cooling). Cover; chill in refrigerator for 4 to 48 hours. Makes 12 to 16 servings.