Preheat oven to 350°F. Line 2 large rimmed baking sheets with parchment paper. Sift first 3 ingredients into medium bowl. Using electric mixer, beat butter in large bowl until fluffy. Add both sugars and beat until blended. Beat in eggs, 1 at a time, then vanilla. Add dry ingredients and beat just until blended. Using spatula, stir in cranberries, white chocolate chips, and nuts.
For large cookies, drop dough by heaping tablespoonfuls onto prepared sheets, spacing 21/2 inches apart. For small cookies, drop dough by level tablespoonfuls onto sheets, spacing 11/2 inches apart.
Bake cookies until just golden, about 18 minutes for large cookies and about 15 minutes for small cookies. Cool on sheets.
Do ahead Can be made ahead. Store airtight at room temperature up to 2 days or freeze up to 2 weeks.