To make the dough: Heat milk in a sauté pan over low heat. Stir in 1/3 cup butter, 1/4 cup sour cream, sugar, 1 teaspoon orange zest and salt. In the bowl of a stand mixer add the butter mixture, eggs and yeast. Slowly add the flour and mix until well incorporated, turn out onto a surface and knead about 10 minutes (or kneed in stand mixer with dough hook attachment). Form into a ball. Grease a separate bowl with vegetable oil and add dough ball, cover and let sit for 1 1/2 hours. Punch the dough down and turn it out onto a lightly floured surface. Roll into a large rectangle (about 20x12 inches). Brush the dough with melted butter, leaving a 1/2 inch strip without butter along one of the long sides. In a small bowl mix the cinnamon and brown sugar, then sprinkle over the buttered bread and top almonds and dried cranberries.
To form the bread: Starting with the covered long edge, roll the dough up like a jelly roll, going towards the edge with no butter on it. Use a little of the beaten egg white to brush along the clean edge and pinch to seal the two sides together. Next bring the ends together to form a ring, tucking one side into the other to seal it shut. Put the ring seam side down on a parchment lined baking sheet, with a ramekin in the center to keep it in the shape of a ring. Press down on the dough slightly, and using a pair of scissors, make cuts in the dough about 1 ½ inch apart. Cover with greased plastic wrap and let rise until nearly doubled (about 40 more minutes). Preheat the oven to 350 degrees and brush the dough circle with beaten egg white. Bake for 35-45 minutes. If the bread is browning too quickly cover with aluminum foil.
Meanwhile, sift the powdered sugar into a bowl and whisk together with 2 tablespoons sour cream and orange juice, if icing is too thick add water, 1 tablespoon at a time. Allow the bread to cool slightly and spread glaze over the top, decorate with candied cherries and almonds.