Tolkien is an interesting read, but I believe he DID begin writing his myths as night-time stories for children. So it wasn't an over-arching vision of a grand new world that inspired him to write. Clearly, he had a deep talent for writing grand fantasy, backed up by etymology and placed in a (fantasy) historical context. But I don't think he has ever said he conceived the LOTR/Hobbit/Silmarillion works from the beginning as a unified story. They evolved from the first works, as the first works were well-received and there was demand for more.
Personally, I find reading Tolkien to be a bit tedious, but I know there are those who enjoy the poems/songs and attention to etymology. I've never found another author who writes just like Tolkien. Might be due to the fact that there is no other author who shared Tolkien's experiences and perspective.
It might be more helpful if you can identify what it is that you like about Tolkien's works, then try to find good works by an author who writes in that way.
Anyway, here are three recommendations for good reading:
1) George R.R. Martin : wonderful characterization, good storytelling, above average world development, everyone I've recommended read GRRM has thoroughly enjoed it
2) Brandon Sanderson : most creative magic mechanisms in some time, great world building, somewhat stereotypical character development
3) Robert Jordan : most deeply developed modern fantasy series that are worth reading, excellent political development, good magic...and some books (6-8, 11) are page-turners...other books are bloated, lazily edited, and reminiscent of Dickens (that is, he was clearly paid by the word/book).