Turn oven on to 350°. Grease a 12-cup bundt pan with oil, then sprinkle lightly with flour, ensuring that the entire cake pan is lightly coated with flour and oil. Gently tap out any excess flour. Set pan aside.
In a medium bowl, whisk together 2 3/4 cups all-purpose flour, 1 teaspoon baking powder, 1/2 teaspoon baking soda, and 1/2 teaspoon salt. Set the bowl aside.
Zest both naval oranges with a microplane. Measure out 2 Tablespoons of the zest and add it to the bowl of your stand mixer or a large mixing bowl (discard the rest or reserve for another use).
Juice both oranges into a measuring cup, straining out any seeds. Add water to the orange juice to total 1 cup of liquid. Set aside.
Add 1 1/4 cups granulated sugar to the bowl with the orange zest. Mix the orange zest and sugar together with your fingertips, until the sugar is a uniform pale orange color, ensuring to break up any clumps of zest.
Add 3 large eggs to the mixing bowl. Mix on medium speed (or whisk vigorously) until the mixture becomes a uniform pale orange color. Add the orange juice mixture and 1 cup canola oil and mix at low speed (or whisk) until it reaches a uniform consistency.
Add most of the flour mixture to the orange mixture, reserving about 1/4 - 1/3 cup of the flour mixture in the medium bowl.
Measure out 1/2 cup of the12 ounces (3 1/2 cups) cranberries12 ounces (3 1/2 cups) cranberries and set this portion aside (you will be using these for the glaze).
Add the remaining cranberries (there should be about 3 cups) to the medium bowl with the remaining flour mixture. Toss or stir gently to coat the cranberries in flour. Fold the cranberries (and any remaining flour) into the bowl with the batter gently with a spatula.
Pour the batter into the prepared bundt pan, smoothing the top as needed. Bake for about 1 hour, or until a toothpick or skewer inserted into the cake comes out clean (note that if your cranberries were frozen, you may need to bake the cake a little longer).
Place the cake pan on a cooling rack, and let cool completely before removing from the pan.
Cranberry Glaze
Place the 1/2 cup of cranberries you reserved earlier into a microwaveable, heatproof measuring cup or bowl. Add 1 Tablespoon water and microwave on high heat for 1 minute. Stir the cranberries, and microwave again for another minute, or until the mixture comes to a boil and all of the berries have burst and released their juices. (Note: you can also do this step on the stove in a small saucepan, but it will take a little longer.)
Pour the cranberry mixture through a fine-mesh strainer, pressing gently with the back of a spoon to release all of the juice from the cranberries and scraping the bottom of the strainer into the bowl. Stir 1 cup powdered sugar into the cranberry juice mixture. If you want the glaze to be thicker, add more powdered sugar 1 Tablespoon a a time until you reach your desired consistency.
Drizzle the glaze over the top of the cooled cake. Serve immediately, or allow the glaze to harden before serving.