1. Cook butter in a small heavy saucepan over medium heat, stirring constantly, 6 to 8 minutes or until butter begins to turn golden brown. Remove from heat immediately. Pour butter into a small bowl. Cover and freeze until firm (about 1 1/2 hours).
2. Preheat oven to 425°. Stir together flour, 2/3 cup sugar, baking powder, and salt. Cut in frozen browned butter with a pastry blender until mixture is crumbly. Combine 1 cup whipping cream, extracts, and egg, whisking until blended. Add to flour mixture, stirring with a fork until a shaggy dough forms.
3. Scoop dough by 2 heaping Tbsp. onto parchment paper-lined baking sheets. Brush with 2 Tbsp. whipping cream. Sprinkle with 1 Tbsp. sugar.
4. Bake at 425° for 12 to 14 minutes or until browned. Cool on wire racks. Serve with Faux Clotted Cream and preserves.