In a small saucepan, combine cranberries, 1/3 cup sugar, orange juice and zest. Cook over medium heat until berries pop, about 10-12 minutes, stirring occasionally. Keep warm.
In a large saucepan, combine 1-1/2 cups milk, rice and remaining sugar; bring to a boil over medium heat. Cook until thick and creamy, about 15 minutes, stirring occasionally. Whisk together eggs and remaining milk. Stir into rice mixture. Cook and stir until mixture reaches 160°, about 2 minutes.
Remove from heat; stir in extract. Serve warm with cranberry topping. Refrigerate leftovers.