Combine cherries and 2 teaspoons of the flour in small bowl; toss to mix well. Set aside.
Beat butter, sugar, eggs and vanilla in large mixing bowl with electric mixer on medium until light and fluffy. Reduce speed to low; gradually beat in remaining flour and salt. Add orange peel and cherry mixture; mix to combine.
Divide dough into thirds; shape each third into log 1-1/2 inches in diameter and about inches long. Roll each log in 1/3 cup peanuts. Wrap each log in waxed paper or plastic wrap, twisting ends to seal. Refrigerate at least 4 hours.
Heat oven to 400°F. Unwrap logs and cut crosswise into 1/4-inch slices. Place slices 1 to 2 inches apart on ungreased cookie sheets. Bake in 400°F oven 10 to 12 minutes or until lightly browned. Remove cookies from cookie sheet to wire racks; cool completely. Drizzle cookies with melted chocolate chips for festive appearance, if desired. Store in an airtight container.
Cook’s Tip: Peanuts must be finely chopped to easily slice dough into rounds. Cookie dough logs may be made in advance wrapped airtight and refrigerated for up to 3 days or frozen up to 2 weeks. Thaw frozen dough in refrigerator before slicing and baking.
Notes: Makes 7 dozen cookies
Nutrition information per serving:
Calories from Fat: 90g
Trans fats: 0g