Coat 12 metal heart molds with vegetable cooking spray. Arrange sprinkles in coated molds.
In saucepan, combine sugar, water, and corn syrup. Bring to a boil over high heat, stirring occasionally. Reduce heat to medium-high, attach candy thermometer to side of pan, and simmer until mixture reaches 300°F, about 20 minutes. Remove pan from heat; stir in cinnamon extract and red food coloring.
Working quickly, spoon liquid into molds. Press lollipop sticks into center. Cool completely.
To make small, round lollipops, place sticks on aluminum foil and arrange sprinkles around sticks. Spoon liquid over sticks and sprinkles. Cool completely and peel off foil.