I can't speak to the cherry wood but f you do add wood toast it next
time. Raw wood doesn't do anything good to wine for the most part.
As to toasting you can do that in an oven set to >350, probably more
like 450 F.

As to sparkling the wine, if you are just going to carbonate it with a
tank it doesn't matter what you use to fine or stabilize. If you are
doing it naturally you may want to cut back on adding the sulfite and
definitely don't use the sorbate.

The general process for naturally sparkled wine is to:

Start on the lower end of alcohol, 10-11%.
Start with higher acid levels usually around 8g/l.
Get the wine cleaned up with time or fining agents. (Both are good,
since you are probably considering a fruity style, use the fining
agents).
Add a very precise amount of sugar and some new yeast to the batch (EC
1118 is a good choice).
As soon as that starts fermenting bottle it using crown caps and
champagne bottles.

Joe