Heat oven to 325ºF. Line an 8-inch round cake pan with foil. Coat foil with cooking spray. Dust pan with flour, tapping to remove excess.
Microwave 2/3 cup chocolate chips, butter and unsweetened chocolate in large microwave-safe bowl on High for 1 minute. Stir until smooth. Return to microwave for 30 additional seconds if necessary to melt chocolate.
Stir in cranberry sauce and sugar, mixing well. Add eggs, vanilla, flour and baking powder, stirring until well mixed. Pour batter in prepared pan.
Bake for 40 minutes or until center is set and a toothpick comes out clean. Cool in pan 30 minutes. Refrigerate one hour or until cold.
Microwave cream and chocolate chips together in medium microwave-safe bowl for 1 minute on High. Stir until smooth. Return to microwave for 30 additional seconds if necessary to melt chocolate. Add cranberry sauce, mixing well.
Turn cake out onto flat serving plate. Remove foil. Spread glaze over top allowing some to drip down sides of cake. Chill about 1 hour or until glaze is firm. Can be made a day ahead of time. Store at room temperature.