For cranberry glaze, combine water and sugar in a large saucepan and bring to a boil. Add cranberries and return to a boil, stirring occasionally for about 6 minutes or until berries pop and soften.
Transfer cranberries to a fine sieve set over a bowl and press contents through sieve. Discard solids and stir in 2 tablespoons of the TABASCO(R) Chipotle Sauce. Glaze can be refrigerated up to two days before using.
To prepare turkey, combine butter, salt, pepper, and remaining 2 tablespoons TABASCO(R) Chipotle Sauce in a small bowl and mix well. Place turkey in a large roasting pan and brush with butter mixture. Bake in a 325 degrees F oven for approximately 11 minutes per pound for an unstuffed bird, or until an internal temperature of 180 degrees F is reached.
One hour and 20 minutes before the turkey is done, begin brushing it with cranberry glaze. Brush turkey liberally every 20 minutes, 3 separate times, and then roast turkey without basting for the last 40 minutes. Let rest at least 30 minutes before carving.