Preheat oven to 350°. Line bottoms of two greased 9-in. round baking pans with parchment; grease paper. In a large bowl, combine the first 5 ingredients; beat on low speed 30 seconds. Beat on medium 2 minutes. Stir in cranberries and walnuts. Transfer batter to prepared pans., Bake 30-35 minutes or until a toothpick inserted in center comes out clean. Cool in pans 10 minutes before removing to wire racks; remove paper. Cool completely., In a large bowl, beat cream cheese, butter and vanilla until blended. Gradually beat in confectioners’ sugar and orange zest until smooth. Spread frosting between layers and over top and sides of cake. Sprinkle with walnuts. Refrigerate leftovers. Freeze option: Wrap cooled cake layers, then cover securely in foil; freeze. To use, thaw cakes before unwrapping. Assemble as directed.