Add chopped dried cherries and 1 tablespoon of amaretto to a small bowl, ensuring that the cherries are covered in amaretto. Set aside. Melt 1 tablespoon of butter and brush all sides and crevices of a 10-quart bundt pan. I used a kugelhopf pan for the fun shape and to help give it height.
Add scalded milk to bowl of a stand mixer. If it's still hot, let it cool so it's just warm. At that point, add package of active dry yeast and sugar. Stir together and let sit for 5 minutes.
Add softened butter, flour, and salt. Using a paddle attachment, mix until dough forms. Add eggs one at a time until combined. Dough will be very wet. Scrape down the side of the bowl and cover bowl with a damp towel. Let dough rise for 1 hour.
Once dough has risen, drain cherries and add to dough. Fold into dough with a spatula. Spoon into greased pan and smooth the top. Cover with damp towel and set aside to rise again for 1 hour or until doubled in size. It will not fill the mold to the top.
Preheat oven to 375 degrees. Make the amaretto syrup by placing water, amaretto liquor, and sugar in a small saucepan. Pace over medium heat. Stir until sugar is dissolved. Turn off heat and set aside.
Bake risen cake in oven for 30 minutes or until top is deep golden brown. Remove from oven and let cool in cake mold for 10 minutes. Remove from pan and place in a deep baking dish or cake pan. Pour 1/4 cup of syrup over the top of the baba, very slowly. The leftover syrup will collect at the bottom and the baba will soak it up through the bottom. Let sit for 1 minute and repeat until all the syrup is gone. If any excess syrup remains in the bottom of the pan, spoon it over the top of the baba.
Finish the baba by glazing with apricot preserves. Heat preserves and 1 tablespoon of water in a microwave-safe cup for 30 seconds. Push through sieve to remove chunks of fruit. Brush preserves over the baba cake and let sit for 10 minutes. Serve with whipped cream.