Heat oven to 375°F. Spray six 6-oz. custard cups with nonstick cooking spray.
In medium bowl, combine cream cheese, 1/3 cup sugar, egg product, milk and vanilla; beat until smooth. Set aside.
For each cup, place 1 phyllo sheet on work surface; spray with cooking spray. Fold sheet in half, forming 8 1/2x12-inch rectangle; spray again. Gently ease center of folded phyllo into bottom and up sides of cup. (Phyllo will hang over edges.) Repeat with remaining phyllo sheets and custard cups.
Spoon about 1/4 cup cream cheese mixture into each cup. Bring phyllo up over filling, loosely bunching edges together forming a ruffled top with some filling showing. Spray with cooking spray. Set custard cups in 15x10x1-inch baking pan.
Bake at 375°F. for 12 to 15 minutes or until phyllo is golden brown. Cool slightly. Carefully remove from cups. Refrigerate at least 30 minutes or until serving time.
Place raspberries and water in blender container or food processor bowl with metal blade; process until smooth. Strain mixture into bowl to remove seeds. Stir in 1/4 cup sugar and lime peel.
To serve, spoon 1/4 cup raspberry sauce onto each of 6 individual dessert plates. Place 1 cheesecake on each plate. Store in refrigerator.