Peel a large orange and combine the peels in a small bowl with 1/2 cup of sugar to make an oleo saccharum. Cover and let macerate overnight, occasionally stirring. The next day, add the juice of the peeled orange to the mixture and stir in another 1/4 cup of sugar until dissolved. Add the punch's other ingredients, refrigerate until chilled, add a punch-sized block of ice, and ladle over crushed ice to make six servings. Garnish with orange wheels and cinnamon.