1Heat oven to 350°F. Lightly spray 13x9-inch pan with cooking spray. Remove skin from ham; trim fat to 1/4-inch thickness. Make shallow cuts in fat 1 inch apart in diamond pattern. Rub peppercorns over surface of ham; insert cloves in centers of diamonds.
2Place ham in pan. Insert ovenproof meat thermometer so tip is in thickest part of ham and does not touch fat or bone. In small bowl, mix 1 1/4 cups of the cola, 2 tablespoons of the bourbon and 1/4 cup of the brown sugar; pour over ham. Bake uncovered 2 hours, basting with pan drippings every 15 minutes.
3In 1-quart saucepan, mix remaining 1/4 cup cola and remaining 2 tablespoons each bourbon and brown sugar. Add 2/3 cup of the preserves. Cook over medium heat 3 minutes or until glaze is hot and sugar is dissolved. Brush glaze over ham. Bake 1 hour 45 minutes longer or until thermometer reads 140°F. Transfer ham to serving platter; cover with foil. Let stand 30 minutes before carving.
4Skim fat from drippings in pan. Stir remaining 1/2 cup preserves into drippings with whisk. Transfer mixture to a saucepan. Heat to boiling; reduce heat. Simmer 8 to 10 minutes or until thickened. Serve glaze with ham.