Combine 1-1/2 cups flour, sugar, undissolved yeast, and salt in large mixer bowl. Heat milk, butter, and water until very warm (120° to 130°F). Gradually add to flour mixture; beat 2 minutes at medium speed of electric mixer, scraping bowl occasionally. Add eggs and 1/2 cup flour; beat 2 minutes at high speed, scraping bowl occasionally. With spoon, stir in enough remaining flour to make stiff batter. Cover tightly with plastic wrap; refrigerate 2 to 24 hours.
To make Cranberry Filling, combine all filling ingredients in a small saucepan over medium heat. Bring to boil; reduce heat to low and simmer 5 minutes or until thickened, stirring frequently. Remove from heat and let cool. Do not refrigerate.
Remove dough from refrigerator. Punch dough down. For easier shaping, let dough rest 5 to 10 minutes at room temperature. Roll to 21 x 12-inch rectangle on lightly floured surface. Spread Cranberry Filling over dough to within 1/2 inch of edges. Fold crosswise in thirds, to enclose filling, making a 12 x 7-inch rectangle. Press edges to seal. Cut dough into 12 (1-inch) strips. Holding ends of each strip, twist three times. Pinch together ends of each twisted strip to form wreaths; place on greased baking sheets. Cover; let rise in warm, draft-free place until almost doubled in size, about 30 to 45 minutes.
Bake at 400°F for 12 to 15 minutes or until golden brown, switching positions of sheets halfway through baking time for even browning. Remove wreaths from baking sheets; let cool on wire racks. Drizzle wreaths with Powdered Sugar Icing.
To make Powdered Sugar Icing, combine all icing ingredients in a small bowl. Stir until smooth. For easy drizzling, transfer icing to resealable plastic bag; snip corner of bag and squeeze icing onto wreaths.