Place caramels in microwaveable bowl. Add 2 Tbsp. evaporated milk; set aside. Pour remaining evaporated milk into large bowl. Add sweetened condensed milk, eggs, vanilla and cinnamon; whisk until blended. Add bread; stir until liquid is absorbed. Stir in apples and cranberries; pour into 2-L casserole dish sprayed with cooking spray. Place in water bath.