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PREHEAT oven to 325°F if using a greased silver 9-inch springform pan (or to 300°F if using a dark nonstick 9-inch springform pan). Mix coconut, almonds, 1/2 cup of the sweetened condensed milk, flour and butter until well blended; press onto bottom of pan.
BEAT cream cheese, sugar and remaining 3/4 cup sweetened condensed milk with electric mixer on medium speed until well blended. Add eggs, 1 at a time, mixing on low speed after each addition just until blended. Blend in liqueur; pour over crust.
BAKE 55 to 1 hour or until center is almost set. Run knife or metal spatula around rim of pan to loosen cake; cool before removing rim of pan. Refrigerate 4 hours or overnight. Store leftover cheesecake in refrigerator.