Slice bread into 1 to 1½-inch thick slices or whatever width, so that you get at least 10-12 slices. Lay slices on a flat surface (a baking sheet or a very large cutting board) and let dry out a little. I left mine out for a couple of hours in the morning.
Butter bottom and sides of 9x13-inch baking dish.
In a large bowl, whisk together the eggs, milk, sugar, vanilla extract, cinnamon, and salt.
Arrange half of the slices of bread in a single layer on the bottom of the baking dish, overlapping the slices a little bit. Slowly pour or ladle about one-third of the egg+milk mixture over the layer of bread.
Using your fingers, break apart the softened cream cheese into small chunks, flattening the chunks out to about ½-inch thick. Dot the cream cheese over the bottom layer of bread. Spoon cranberry sauce between and over the cream cheese. Pour or ladle a little more of the egg+milk mixture between the cranberry sauce and cream cheese dollops.
Arrange the remaining half of bread slices over the cranberry sauce and cream cheese in a single layer, and slightly overlapping (like the first layer). Slowly pour or ladle the remaining egg+milk mixture over the bread. Tilt the baking dish and let excess egg+milk mixture run to one side; spoon the excess back over the top. Do this a few times to help the bread soak up the egg+milk.
Cover the baking dish with foil, put in refrigerator, and allow the bread to soak for at least one hour, up to overnight.