Make ice ring: Pour 1 cup each apple and cranberry juice into an 8- to 9-in. bundt or ring mold. Add half of orange slices in a single layer and about 1/3 of cranberries. Freeze until firm, at least 3 hours.
Set aside 24 to 36 cranberries for garnish. Pour remaining berries into mold, then add remaining orange slices. Fill with another 1 cup each apple and cranberry juices. Freeze until frozen solid, at least 3 hours more.
Just before serving, mix remaining 4 cups of each juice with tequila, orange liqueur, and sparkling wine in a large bowl or pitcher. Remove mold from freezer and invert onto a plate. Run bottom of mold under warm water until it releases, a few seconds. Slide ice ring into a punch bowl fruit side up. Fill bowl with punch.
To serve, skewer each reserved cranberry with a toothpick to make a hole. Strip 2/3 of leaves from bottom of rosemary sprigs, then slide 2 or 3 cranberries onto each sprig. Fill glasses with punch and set a sprig in or across each glass.
Make ahead: Ice ring, up to 1 week.