Slice one orange into thin slices.

Add orange slices to a large resealable pitcher.

Juice the second orange (about 1/4 cup).

Juice the lime (about 2 tablespoons).

Add the orange juice and lime juice to the pitcher.

Add pitted Bing cherries, red wine, sweet vermouth, cognac, simple syrup, Angostura bitters, and water to the pitcher.

Stir the mixture well to combine.

Cover the pitcher and refrigerate for at least 4 hours to allow flavors to meld.

Fill serving glasses with ice.

Stir the sangria well before serving.

Divide the sangria among the serving glasses.

Garnish each glass with a whole cherry (with stem).