Let egg whites stand at room temperature for 30 minutes. Pour melted butter into a 9-in. round baking pan; sprinkle with brown sugar. Arrange cherries in a single layer over sugar.
In a large bowl, beat softened butter and sugar until crumbly, about 2 minutes. Combine the flour, baking powder and salt; add to the butter mixture alternately with milk. Stir in extract. In another bowl, beat egg whites until stiff peaks form; fold into batter. Spoon over cherries.
Bake at 350° for 30-35 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before inverting onto a serving plate. Sprinkle with almonds. Serve warm with whipped cream.