For dough: In small saucepan on low heat, combine milk, water and butter until butter is melted (about 120-130°F). Set aside. In large mixing bowl, combine 1 cup flour, sugar, undissolved yeast and salt. Mix and slowly add in milk mixture. Beat for 2 min. on medium speed (using paddle attachment of electric mixer), scraping sides of bowl occasionally. Add eggs, cinnamon and an additional cup of flour. Beat 2 more min. at high speed. Add in enough flour (about 1-1 1⁄2 cups) to make a soft dough. Transfer dough to a floured surface and knead with hands until smooth and elastic about 8 min. Cover with plastic wrap and let rest 10 min. While dough is resting, make filling.

For filling: drain maraschino cherries using a strainer (discard juice). Pat cherries dry with paper towels. Reserve about 6-8 cherries for final garnish. Divide dough into 3 equal pieces. Roll each piece on a lightly floured surface to an 6×18-inch rectangle. Spread cherry filling over each rectangle, leaving a 1-inch border. Starting on the long side, roll up tightly (like you would if making cinnamon rolls). Pinch seams and ends to seal. Transfer each roll to a parchment paper-lined baking sheet and braid the 3 dough rolls gently. Pinch ends and tuck under to seal. Cover with plastic wrap and let rise in a warm, draft-free place for about 1 hour. Dough should double in size.

When ready to bake, remove plastic wrap. In small bowl, whisk together egg white and water for egg glaze. Brush glaze over unbaked dough. Bake in preheated 350°F oven for 30-35 min. Remove from baking sheet by sliding parchment paper onto a wire rack to cool completely.

For glaze: Whisk together powdered sugar, milk and almond extract. Spoon over cooled braid. Sprinkle immediately with sliced almonds. Sliced reserved cherries in half and place on top. Allow glaze to set about 10 min. Slice and enjoy!