Heat oven to 350°F. Spray 10-inch ovenproof skillet with cooking spray. In medium bowl, beat cream cheese, 3 tablespoons sugar and the raspberry jam with electric mixer on medium speed until well mixed.
Separate dough into 8 biscuits; split biscuits in half, making total of 16 biscuit rounds. Press each into 3-inch circle. Spoon about 1 tablespoon of the cream cheese mixture in center of each biscuit round, and top with 1 raspberry.
Carefully bring sides of biscuit dough up and around filling, and firmly pinch to seal completely; shape into a ball, and place pinched end facing down in skillet. Continue for remaining biscuit rounds, arranging in skillet. Brush biscuits with melted butter; sprinkle tops with remaining 2 teaspoons sugar. Bake 30 to 35 minutes or until biscuits are golden brown on top. Cool 20 minutes.
In small microwavable bowl, microwave white baking chips uncovered on Medium (50%) 1 minute 30 seconds to 2 minutes, stirring after 30 seconds, until melted and drizzling consistency. Drizzle on top of biscuits, and serve with remaining raspberries. Serve warm.