1. Make the cranberry jam
Convey cranberries, sugar, orange juice, and ¼ cup water to a boil in a medium saucepan; cut back warmth and simmer, stirring sometimes, till thick and jammy, 30–40 minutes. Combine in orange zest; let cool.
DO AHEAD: Jam might be made 5 days forward. Cowl and chill.
2. Combine the cranberry margaritas
Combine salt, sugar, and five-spice powder on a small plate. Rub rims of Previous Common glasses with lime wedge; dip in salt combination and fill glasses with ice.
For every cocktail, mix ½ oz. lime juice, 1 oz. orange juice, 1½ oz. tequila, and a couple of Tbsp. cranberry jam in a cocktail shaker; fill with ice. Cowl and shake till the surface is frosty, about 30 seconds. Pressure into ready glasses and serve!