Heat oven to 350°F. Lightly spray 8 large custard cups (10 oz each) with cooking spray, set aside.
In 1-quart saucepan, heat caramel ingredients over medium heat, stirring until sugar is dissolved. Heat mixture to rolling boil; reduce heat to medium-low. Cook 3 to 4 minutes, stirring constantly, until thickened. Let stand 5 minutes to cool slightly.
Meanwhile, in small bowl, stir together 1/2 cup brown sugar, the cinnamon and 1 tablespoon orange peel. Separate dough into 8 biscuits. Press each biscuit into the cinnamon and brown sugar mixture until coated on all sides; set aside.
Spoon 1 tablespoon caramel into bottom of each custard cup. Place 1 orange slice on top of caramel in each, and top with about 1 tablespoon dried cranberries. Top with remaining caramel, about 1 tablespoon each.
Place sugared biscuit on top of brown sugar mixture in each. Bake 14 to 17 minutes or until the biscuit is golden brown. Remove to cooling rack; cool about 10 minutes.
Meanwhile, in medium bowl, beat whipping cream and powdered sugar with electric mixer on medium speed until stiff peaks form.
Carefully turn custard cups upside down onto 8 individual serving plates. Just before serving, top with whipped cream and grated orange peel.