Beat the butter, cream cheese, 2 tablespoons sugar and the salt in a large bowl with a mixer on low speed until smooth and creamy, about 2 minutes. Add the flour and mix until crumbly, about 1 minute. Turn out onto a lightly floured surface and lightly knead with your hands to make a soft dough. Wrap in plastic wrap and refrigerate until firm, at least 1 hour or overnight.
Position racks in the upper and lower thirds of the oven; preheat to 350 degrees F. Line 2 baking sheets with parchment paper. Make the filling: Put the dried cranberries and 1 tablespoon water in a medium microwave-safe bowl; microwave until plump, about 1 minute. Let cool. Stir in the pecans, the remaining 1/2 cup sugar and the cinnamon, then stir in the milk.
Roll out the dough until 1/8 inch thick on a lightly floured surface. Cut out circles using a 3 1/2-inch-round cookie cutter. Gather the scraps; reroll once to cut more circles. Place a heaping teaspoonful of filling on the bottom third of each circle, leaving a small border. Brush the edges with a little milk, fold the dough over the filling and roll to enclose; pinch the 2 ends closed and bend into a crescent shape. Repeat with the remaining dough and filling.
Arrange the cookies 1 inch apart on the baking sheets; brush with milk and sprinkle with sugar. Bake, switching the pans halfway through, until lightly browned, 15 to 20 minutes. Let cool completely on the baking sheets.