On a lightly floured surface, roll dough out. Place red cherries and walnuts in center. Fold dough over. Knead fruit and walnuts into dough. Shape into 17 balls. On a prepared baking sheet, arrange five balls in a row horizontally. Place four on the next row, then three, two, and one, to form a tree. Use the remaining two balls for the trunk. Leave at least one inch between balls for rising. Let rise in a warm draft free place until doubled in size. Bake in a 375 degree oven for 20 minutes, or until golden brown. Meanwhile, to prepare glaze, combine sugar, milk, and vanilla extract. Mix until drizzling consistency. Drizzle over tree.