Dissolve ⅓ cup sugar and ½ cup cranberry juice in a medium saucepan over medium heat. Add cinnamon stick and orange zest and bring to a boil. Mix in cranberries and continue to cook until cranberries begin to pop. Cool. Discard cinnamon stick.
Pour mixture into a container and add ½ cup light rum. Chill. Strain mixture into serving container, reserving the cranberries. Add 6 tablespoons each of light rum, dark rum, cranberry juice and lemon juice. Chill well. Serve garnished with reserved cranberries. This recipe doubles well.