STIR boiling water into dry gelatin mix in large bowl with wire whisk 2 min. until completely dissolved. Add cranberry sauce; stir until well blended. Stir in cold water. Pour 1-1/2 cups of the gelatin mixture into 6-cup mold sprayed with cooking spray. Refrigerate 45 min. or until set but not firm. (Gelatin should stick to finger.)

MEANWHILE, refrigerate remaining gelatin mixture 45 min. or until thickened (spoon drawn through leaves definite impression). Stir in 2 cups of the whipped topping until well blended. Pour over gelatin in mold.

REFRIGERATE 4 hours or until firm. Unmold. Top with remaining whipped topping. Store leftovers in refrigerator.