Stir flour and sugar together with a fork.
Stir in eggs, milk, cranberries, walnuts, orange zest, and orange extract until blended.
When oil reached 370 degrees (F), drop batter by large spoonfuls into the oil without crowding them. Fry until both sides are golden, approximately 1 minute per side, turning once. Lift basket to drain, then drain fritters on paper towels.
While still warm, roll in granulated sugar and serve.
*If fresh cranberries are out of season, substitute frozen or dried cranberries.