1. Prepare Filling: Preheat oven to 425°. Toss together first 3 ingredients. Melt 1/4 cup butter in a large skillet over medium-high heat; add apple mixture. Cook, stirring often, 20 to 25 minutes or until apples are tender and syrup thickens. Remove from heat; stir in cherries and next 3 ingredients. Spoon apple mixture into a lightly greased 3-qt. baking dish. Bake apple mixture 12 minutes, placing a baking sheet on oven rack directly below baking dish to catch any drips.
2. Prepare Biscuits: Stir together 2 1/4 cups flour and next 3 ingredients in a large bowl. Cut cold butter pieces into flour mixture with a pastry blender or fork until crumbly; stir in milk. Turn dough out onto a lightly floured surface; knead 4 to 5 times. Roll dough into a 12-inch square. Combine brown sugar and 2 Tbsp. melted butter; sprinkle over dough, patting gently. Sprinkle with almonds. Roll up, jelly-roll fashion; pinch seams and ends to seal. Cut roll into 12 (1-inch) slices. Place slices in a single layer on top of apple mixture.
3. Bake at 425° for 15 to 17 minutes or until biscuits are golden. Serve with whipped cream, if desired.