Combine 1 cup water, 1 cup white sugar, and 1/2 cup dark brown sugar in a saucepan over medium heat.
Heat until mixture is boiling, and all of the sugar is dissolved. Remove from heat and let it cool for about 10 minutes.
Stir in 2 cups vodka, 2 tablespoons almond extract, and 2 teaspoons vanilla extract, allow to cool to room temperature, then store in sterilized, sealed bottles.