In stand mixer bowl, add 2 1/2 cups flour, yeast, sugar, salt and cardamom; mix well. In saucepan or microwave-safe dish, heat milk, water and butter to 120-130°F (butter does not need to melt). Add to flour mixture. Using a paddle attachment, blend on low speed for 30 seconds. Add 2 eggs; beat on medium speed for 3 minutes.
Switch to dough hook attachment. Gradually stir in enough remaining flour to make a soft dough. Knead until smooth and elastic, about 5 to 7 minutes.(NOTE: For hand mixing: following above steps, mix ingredients in large mixing bowl using a wooden spoon or dough whisk. Knead on floured surface until smooth and elastic.) Place dough in lightly oiled bowl and turn to grease top. Cover; let rise until indentation remains after poking dough with finger down to second knuckle, about 1 hour.
Punch down dough. Divide into 3 equal parts. Divide each part into 3 pieces. On lightly floured surface, roll each piece to a 16-inch rope. On greased cookie sheets, loosely braid 3 ropes from center to ends. Pinch ends and tuck under to seal. Repeat with remaining ropes. Cover; let rise in warm place until indentation remains after lightly touching.
Preheat oven to 350°F.
Gently brush braids with egg; sprinkle with almonds or pearl sugar. Bake for 20 to 25 minutes, until golden brown. Remove from cookie sheets; cool on wire rack.