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Rinse lemon and orange and thinly slice them, discarding seeds; quarter the orange slices.
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Put fruit in a 4- to 5-quart pan.
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Add honey, sugar (use the smaller amount if you prefer drinks on the tart side, the larger if you want a sweeter flavor), cloves and allspice.
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With a knife, cut the cinnamon sticks lengthwise into thinner strips.
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Add cinnamon and 2 cups water to pan; bring to a boil over high heat, then reduce heat and boil gently for 5 minutes.
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Pour Santa Margherita Prosecco Superiore DOCG into hot citrus base and heat until steaming, about 8 minutes.
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Keep warm over low heat. Ladle into heatproof cups or wine glasses.