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Line a 9x13-inch pan with aluminum foil. Spray lightly with oil.
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In a medium pan over medium heat, stir together sugar, butter, and evaporated milk until the mixture comes to a boil for 5 minutes. Remove from heat.
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Stir in white chocolate chips and marshmallow cream and stir until smooth. Stir in vanilla, cranberries, and nuts.
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Pour the mixture into the prepared pan. Chill for 2 hours or until firm. Cut into squares.