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1. Line 9x5x3-inch loaf pan with foil. Place ladyfingers, rounded side out, on bottom and sides of prepared pan, cutting to fit where necessary; set aside.
2. Sprinkle gelatin over milk in small saucepan; let stand 2 minutes to soften. Cook over low heat, stirring constantly, until gelatin is completely dissolved, about 5 minutes. Remove from heat; cool.
3. Beat cream cheese, sugar and vanilla in large bowl until smooth. Gradually add gelatin mixture, beating on low speed of electric mixer until well blended. Remove 1/3 cup mixture to small bowl; stir in cherries, almond extract and food color. Add cocoa to remaining cheese mixture; beat until smooth. Fold 1/2 cup whipped topping into cherry mixture; fold 2-1/2 cups whipped topping into chocolate mixture.
4. Spoon half of chocolate mixture into prepared pan; spread evenly. Carefully spread cherry mixture over chocolate. Cover with remaining chocolate mixture. Cover; refrigerate 4 to 5 hours or until firm. To serve, unmold onto serving plate; remove foil. Garnish with remaining whipped topping. Cut crosswise into slices. 8 servings.
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