In a large mixing bowl stir together 2 cups of the flour and the yeast. In a medium saucepan heat and stir milk, water, the 1/2 cup butter, the 3 tablespoons sugar, and the salt just until warm (120 degrees F. to 130 degrees F.) and butter almost melts. Add milk mixture to dry mixture along with the eggs, lemon peel, and orange peel. Beat with an electric mixer on low to medium speed for 30 seconds, scraping the side of the bowl constantly. Beat on high speed for 3 minutes. Using a spoon, stir in almonds and as much of the remaining flour as you can.

Turn dough out onto a lightly floured surface. Knead in enough of the remaining flour to make a moderately soft dough that is smooth and elastic (3 to 5 minutes total). Shape dough into a ball. Place dough in a lightly greased bowl, turning once to grease surface. Cover and let rise in a warm place until nearly double in size (about 1 hour).

Punch dough down. Turn out onto a lightly floured surface; cover and let rest for 10 minutes. Meanwhile, in a bowl combine the 6 tablespoons softened butter, the 2/3 cup sugar, and the cinnamon; set aside. Lightly grease a 10-inch fluted tube pan; set aside.

On a lightly floured surface roll dough into a 20x12-inch rectangle. Spread filling evenly over dough to within 1/2 inch of edges. Roll up, jelly-roll style, starting from a long side. Seal seam. Carefully place dough, seam side down, in prepared pan, bringing ends together to form ring. Cover and let rise in a warm place until nearly double (about 45 minutes).

Bake in a 350 degree F. oven 50 to 55 minutes or until golden, covering with foil the last 15 minutes of baking to prevent overbrowning. Carefully invert baking pan onto a wire rack. Remove bread from pan and cool thoroughly. Drizzle with Powdered Sugar Icing. Makes 16 servings.

In a bowl mix 1 cup sifted powdered sugar, 1 tablespoon milk, and 1/4 teaspoon vanilla. Stir in additional milk, 1 teaspoon at a time, until the icing is easy to drizzle.

Mix and knead dough as above. Shape dough into a ball. Place in a lightly greased bowl; turn once. Cover and chill dough in the refrigerator for up to 24 hours. Remove from refrigerator and let stand, covered, at room temperature for 15 minutes. Punch dough down. Continue as directed.