PREHEAT oven to 350° F. Spray two 6-cake mini-Bundt cake pans with nonstick cooking spray with flour.
COMBINE flour, baking powder and salt in large bowl.
BEAT sugar and butter in large mixer bowl until creamy. Beat in eggs one at a time, beating well after each addition. Beat in orange peel and vanilla extract. Beat in flour mixture in 3 additions alternately with buttermilk in 2 additions. Stir in morsels. Fold in cranberries. Spoon into prepared pans, filling 3/4 full.
BAKE for 18 to 20 minutes or until wooden pick inserted in cake comes out clean and cakes are golden. Cool in pans on wire racks for 10 minutes. Invert pans onto wire racks to release cakes. Cool completely. Drizzle with Glaze.
MICROWAVE 2 cups (12-ounce package) NESTLÉ TOLL HOUSE Premier White Morsels in large, uncovered, microwave-safe bowl on MEDIUM-HIGH (70%) power for 1 minute; STIR. The morsels may retain some of their original shape. Microwave at additional 10- to 15-second intervals, stirring just until morsels are melted. Whisk in 1/4 cup orange juice and 1 teaspoon grated orange peel. (Mixture will initially get firm, but as you keep stirring, it will get smooth. Add more orange juice if needed.)