Peel off just the rind of the orange using a vegetable peeler, reserving peel but not the pith. Peel remaining pith from fruit; discard. Section orange.
In a food processor bowl process peel and sections until chopped. Add cranberries; process until coarsely chopped. Transfer to a bowl. Stir in 2/3 cup of the sugar and the extract. Beat remaining sugar, eggs, cream, and flour until smooth.
For egg bread, cut into 1/2-inch-thick slices. Trim crusts; discard. Cut slices diagonally. Arrange half the bread in a greased 2-quart square baking dish. Spread cranberry mixture over bread. Pour half the egg mixture over cranberries. Top with remaining bread; pour remaining egg mixture atop.
Bake in a 325 degree F oven for 65 minutes or until knife comes out clean. Serve warm. Makes 12 servings.