Drain pineapple, reserve juice (3/4 cup). Heat reserved 3/4 cup of juice with water to boil. Stir in lemon gelatin until dissolved. Chill until slightly thickened. Spoon 1 cup into shallow 2 quart mold. Arrange pineapple slices on top. Insert a maraschino cherry in the center of each pineapple ring. Pour remaining lemon gelatin over. Chill until almost set. Meanwhile, heat 2-1/4 cups pineapple juice to boil. Stir in strawberry gelatin until dissolved. Chill until slightly thickened. Stir in cranberry sauce. Spoon over lemon gelatin. Chill overnight until firm.