Carefully remove rind from 3 oranges using a vegetable peeler, making sure not to get any of the white pithy part of the rind. Slice rind into thin strips. Peel all oranges; cut into sections. Combine rind strips, sections, 1 1/2 cups water, and 1 cup sugar in a medium saucepan; bring mixture to a boil. Reduce heat, and simmer for 15 minutes, stirring occasionally.
Add remaining 2 cups sugar and cranberries to pan. Simmer 1 hour and 30 minutes or until thick, stirring occasionally. Remove from heat, and cool completely. Cover and chill.