1. Bring 2 qt. water and next 2 ingredients to a boil in a 3 1/2-qt. saucepan over medium heat; cook 25 minutes or until rice is tender. Let cool to room temperature. Remove cinnamon sticks.
2. Puree rice mixture, in batches, in a blender until smooth. Pour mixture into a pitcher; stir in sugar and enough water to equal 2 qt. Chill; serve over ice.
*Regular cinnamon sticks may be substituted.