In a large mixing bowl combine flour, cinnamon, baking soda, salt, and nutmeg. In another bowl stir together eggs, sugar, cranberries, banana, oil, and 1 teaspoon orange peel. Add to flour mixture, stirring just until combined. Pour batter into a greased 9x5x3-inch loaf pan.
Bake in a 350 degree F oven for 50 to 60 minutes or until a toothpick inserted near the center comes out clean. Cool 10 minutes. Remove from pan; cool on a wire rack. Wrap and store overnight.
In a medium mixing bowl beat margarine or butter with an electric mixer until softened. Add powdered sugar, 1 teaspoon orange peel, orange juice, and vanilla. Beat until smooth. Serve with bread. Makes 1 loaf (18 servings).