Pour 1 cup of the flour in a large mixing bowl. Add the sugar, salt and yeast and stir well.
In a saucepan over medium heat, warm the milk and butter. This should only take a minute or two as the butter should be softened but not melted.
Slowly add the warm milk and butter to the flour mixture; stirring constantly. Add the remaining flour and the two non-colored eggs. Mix well until the dough has pulled together and away from the sides of the bowl.
Turn the dough onto a lightly floured surface and knead until smooth; about 7 minutes.
Lightly spray a large bowl with non-stick cooking spray and place the dough in the bowl. Give the dough a light spray to ensure all sides are coated. Cover with a damp cloth and let rise in a warm place for about an hour. The dough should double in size.
Once the dough has properly risen, place it on a lightly floured surface. Divide the dough into two equal parts. Cover and let it rest for 10 minutes.
Roll each dough half into a log measuring roughly 1 ½ inches thick by 3’ feet long. With the two logs, form a loosely braided ring. Be sure to leave room for the five colored eggs.
Pinch the ends of the ring together and slide the colored eggs between the braids of dough.
Spray a baking sheet with non-stick cooking spray or lightly coat with melted butter. Place the ring on the sheet and cover loosely with a damp towel. Set aside in a warm place and let it rise until doubled in size; about 45 minutes.
Preheat oven to 350 degrees, brush the ring with melted butter and bake for 50 minutes or until golden brown. Do not worry; the colored eggs will cook as the bread does.