In small saucepan, combine butter and brown sugar, heat to boiling. Pour into a 9 x 13-inch glass baking dish.
Remove 1 inch from each end of French bread loaf, slice into 24 equal slices.
Beat eggs and milk until smooth. Using tongs, quickly dip 12 slices of bread into egg mixture, arrange in single layer over brown sugar mixture. Spread cream cheese evenly over bread slices in pan. Spread 1 tablespoon raspberry jam over cream cheese. Dip remaining bread slices in egg mixture, arrange over jam layer. Slowly pour remaining egg mixture over bread slices. Combine 2 tablespoon sugar and cinnamon, sprinkle evenly over French bread. Refrigerate, covered, several hours or overnight.
Bake, uncovered, in a preheated 350 degree F oven until browned (30-40 minutes).
Meanwhile, combine sliced raspberries and 1/4 cup sugar.
In pitcher, combine lemonade powder with water until smooth.
In small saucepan, combine 1 1/2 cups lemonade mixture with cornstarch. Bring to a boil, stirring constantly, boil and stir 1 minute.
To serve, stir raspberries and juice into lemonade mixture. With spatula, remove each serving to dinner plate. Top with strawberry-lemonade mixture, dividing evenly.