In a large mixing bowl, whisk together the dry ingredients: all-purpose flour, baking powder, sugar, salt, and cinnamon. In a separate bowl, beat the eggs, then mix in the milk and melted butter until well combined. Gently fold the wet mixture into the dry ingredients, being careful not to overmix.

Preheat your waffle iron according to the manufacturer's instructions, ensuring it reaches a medium to high heat. For added crispiness, brush the cooking surface with melted butter.

Pour enough batter into the preheated waffle iron to cover the surface without overflowing—about ¾ cup, depending on your iron's size. Close the lid and cook for 5-7 minutes or until the waffles turn golden brown and crisp.

Once the waffles are done, carefully remove them from the waffle iron and brush both sides generously with melted butter while they're still hot. Immediately dust them with cinnamon sugar.

In a double boiler or a microwave-safe bowl, combine the chopped Mexican chocolate and heavy cream. Heat gently, stirring continuously until the mixture is smooth and well-blended.

Serve the warm churro waffles alongside the chocolate dip, garnishing with extra cinnamon sugar.