Line cookie sheet with foil. In 8-inch nonstick skillet, melt butter over medium-high heat. Stir in brown sugar; cook until bubbly. Cook and stir 1 minute longer. Add almonds; stir to coat. Spread almonds on cookie sheet. Cool completely, about 15 minutes. Break into small pieces.
Line 8-inch square pan with foil. In large microwavable bowl, microwave semisweet and milk chocolate chips with condensed milk uncovered on High 1 to 2 minutes, stirring once, until melted and smooth. Add almonds and cherries; stir until blended. Spread evenly in pan. Sprinkle with salt. Refrigerate about 2 hours until firm. Cut into 6 rows by 6 rows. Store covered at room temperature.