Prepare the Cream Cheese Filling: Beat softened cream cheese, sugar, vanilla extract, and almond extract in a bowl until smooth. Divide and add food coloring to each, then chill.

Make the Dough: In a bowl, combine flour, salt, and sugar. Warm milk to 100-110°F, dissolve yeast, let sit for 5 mins. Combine with dry ingredients, eggs, and butter to form dough.

First Rise: Cover dough with a towel, let rise in a warm area for 1 to 1.5 hours until doubled. For enhanced flavor, you can refrigerate overnight.

Shape the Babka: Turn dough onto floured surface, roll into ¼ inch thick rectangle. Spread filling, roll into log, and cut lengthwise to reveal swirls.

Twist and Pan: Twist halves of the sliced dough into a braid, place in greased loaf pans, cover and let rise for about 1 hour until puffy.

Bake the Babka: Preheat oven to 350°F, bake risen babka for 30-40 minutes until golden and sounds hollow when tapped.

Glaze and Cool: Prepare sugar syrup by dissolving sugar in water. Brush syrup on babka while hot and transfer to wire rack to cool.