In the bowl of a standing mixer, add the butter and mix on medium-high until fluffy and light. Add the sugar and the eggs, 1 at a time, until incorporated and combined. Add vanilla and cinnamon. Reduce the speed to low and gradually add the flour to the butter, sugar, egg mixture. Mix until batter looks smooth. Place dough onto a flowered cutting board and cut the dough into quarters, flatten and wrap with the plastic. Chill in the refrigerator for 2 1/2 hours.
Preheat oven to 350 degrees F.
With a rolling pin covered in flour, roll out dough quarters 1 at a time, on a floured work surface to 1/4 to 1/8-inch thick. Use a variety of cutters to cut out cookies. Transfer to a baking sheet lined with parchment and space cookies about 1 1/2 inches apart.
Bake cookies until they are golden brown, about 8 minutes. Using a using a spatula, transfer cookies to a wire rack to cool.
In the bowl of a standing mixer, add sugar and meringue powder. Mix on low speed until thoroughly combined, then drizzle in 1/2 cup of cold water. Beat until thick and glossy. Add the lemon juice to thin it out slightly. Add red food coloring a little at a time until you achieve a pretty pink color.
Once cookies are cool, coat the cookies with the pink frosting, using an offset spatula. You can use a toothpick to carefully spread out the frosting in the small spaces. Sprinkle with pink sanding sugar for a glitzy effect. Let the frosting dry for 1 full day.