Preheat oven to 350°F. Spray 15x11-inch jelly roll pan with cooking spray.
Prepare popcorn according to package directions. Remove all unpopped kernels. Place popped corn in large bowl sprayed with cooking spray.
Spray sides only of medium saucepan; add sugar, water, syrup, vinegar and salt; bring to boil over medium-high heat. Boil for 2 minutes stirring constantly with wooden spoon. Remove from heat stir in almond extract. Pour over popcorn mixture, tossing gently to evenly coat. Spread onto prepared pan.
Bake for 15 minutes, stirring every 5 minutes. Remove from oven; quickly stir in cherries, almonds and orange peel. Spread onto wax paper to cool thoroughly; separate into clusters with a fork. Store in tightly sealed container.
