In large bowl, combine 1 cup flour, 1/3 cup sugar, salt, cardamom and yeast. In small saucepan melt butter. Add water, milk and raisins; heat to 120°. Add to flour mixture. Beat with mixer on medium speed 2 minutes. Remove 2 tablespoons beaten eggs; reserve for later. Add remaining eggs and 1 cup flour to above mixture; beat on high speed 2 minutes. Stir in enough flour to make a soft dough. Turn out on floured surface and knead 8 to 10 minutes, or until smooth and elastic. Place in greased bowl; turn to grease top. Cover and let rise in warm, draft-free place 1 hour or until doubled.
Punch down; turn out on lightly floured surface. Using more flour if necessary, knead until smooth and elastic. Cut dough into 3 equal pieces. Shape each to a 30-inch long rope. Braid ropes loosely; transfer braid to lightly greased baking sheet and shape in wreath, pinching ends firmly together. Place a 6-ounce custard cup, greased on outside, upside down in hole in center to retain shape. Cover and let rise in warm, draft-free place about 45 minutes, or until doubled.
Brush with reserved egg; sprinkle with mixture of remaining sugar and almonds. Bake in preheated 375° oven for 25 to 30 minutes, or until golden and done. Remove to rack to cool. Serve or wrap airtight. Best eaten within 1 week.