Drain maraschino cherries, and return cherries to jar. Pour bourbon into jar, and add just enough water to cover cherries. Cover with lid, and chill 8 hours. Drain cherries, and arrange in a single layer on paper towels. Sprinkle gelatin over 1/4 cup water in a small saucepan; let stand 2 minutes. Cook over low heat, stirring often, 5 minutes or just until gelatin dissolves. Transfer gelatin to a small bowl; whisk until foamy. Dip cherries, 1 at a time, in gelatin, shaking off excess. Sprinkle cherries with sugar; transfer to wax paper, and let dry completely (about 3 hours).