Combine the 2 cups of flour, baking powder, salt and sugars in a food processor and process to mix. Add butter and process until the mixture has a cornmeal consistency. Add the vanilla and process until mixture just forms a ball.
Divide the dough in half and return one half to the food processor. Add the almond extract, food coloring and 2 Tbsp flour and mix until just incorporated.
Roll out each portion of dough between sheets of waxed paper into an 8×11-inch rectangle, with ¼-inch thickness. Stack the dough, leaving in the wax paper, onto a baking sheet and refrigerate until firm, at least 1 hour.
Pour the sprinkles into a shallow dish. Remove the dough from fridge and peel off the top pieces of wax paper from each dough half. Lift one and flip it over onto the other half so that the doughs are touching. Remove the top sheet of wax paper and trim the long edges with a sharp knife so that the sides are straight.
When the dough becomes just pliable, roll the dough beginning with a long end into a log. Gently curl the edge with fingertips and try to avoid creating pockets of air. Carefully lift log into the dish with the decors and roll until outside is completely coated. Wrap the log in plastic wrap and refrigerate until firm enough to slice, about 2 hours.
Preheat your oven to 325 degrees F.Slice the cookie log into 1/4-inch-thick discs and bake on parchment-lined baking sheets for 15 to 17 minutes, or until the cookies are no longer shiny. Transfer cookies to a wire rack to cool completely.