Preheat the oven to 325 degrees F. Grease two baking sheets.
Add the sugar, butter, and honey together in a very large, heavy pot. Stir until the butter is melted and the ingredients are well mixed together..
Cook without stirring, until the mixture is a medium amber color. You can clean away any sugar crystals on the side of the pot with a wet pastry brush. Once it reaches the amber color, immediately remove from heat.
Whisk in the baking soda, then immediately whisk in the bourbon, lemon zest, salt, and cinnamon. Stir well, but carefully as the mixture will bubble and sputter a lot. Sometimes I like to wear an oven mitt on my stirring hand for extra protection.
Add in the popcorn, mixing well to evenly distribute the caramel onto the popcorn. I recommend using two heatproof spatulas to do the job.
Spread the popcorn on both baking sheets in a single layer. Bake for 20 minutes, stirring every 10 minutes.
Store in an airtight bag for up to five weeks.