Place egg whites in a large mixing bowl; let stand at room temperature for 30 minutes. Sift flour twice; set aside. Add cream of tartar, extracts and salt to egg whites; beat on medium speed until soft peaks form. Gradually beat in 3/4 cup sugar, about 2 tablespoons at a time, on high until stiff glossy peaks form and sugar is dissolved. Combine flour and remaining sugar; gradually fold into batter, 1/4 cup at a time. Fold in cherries.
Gently spoon into an ungreased 10-in. tube pan. Cut through batter with a knife to remove air pockets. Bake on the lowest oven rack at 350° for 30-35 minute or until cake springs back when lightly touched. Immediately invert pan; cool completely, about 1 hour. Run a knife around the sides and center tube of pan. Remove cake to a serving plate. Serve with whipped topping.