'That Thing You Do!' star Johnathon Schaech did his thing over the holidays - he proposed to 'One Tree Hill' actress Jana Rae Kramer. "It was the best present ever," he tells PEOPLE. "It was the happiest moment of my life."

Schaech, who was married to Christina Applegate before their divorce in 2007, says, "I can't wait to make Jana my wife and have a family."