Preheat cast iron griddle in grill or on stove until screaming hot.
In a small skillet, saute butter and shallots until softened.
Stir in cherry jam, bitters, simple syrup and chicken broth. Bring to a rolling boil and allow to condense slightly. Turn down heat to low and set aside.
Pat scallops dry with a paper towel. Season with salt. When ready to cook, swirl a bit of butter on the griddle and place scallops on buttered pan. Allow to sear without touching or moving for about 1-2 minutes. Flip and repeat with other side.
Remove scallops to a plate and keep warm.
Bring sauce back to a boil, stir in cherries, bacon and orange zest and stir to combine. Then add whiskey and light liquor with a lighter or match. Allow to cook until the flame burns out. Season with salt and pepper to taste.
Pour sauce in the bottom of a serving bowl, and place scallops on top of sauce. Garnish with more orange peel and serve with a perfect Old Fashioned cocktail.