Working quickly, beat hot syrup into the gelatin mixture at slow speed.
In a large saucepan set up the thermometer. Combine the corn syrup, sugar, and the remaining water and bring the mixture to a boil. Continue cooking over medium heat until the thermometer reaches the "soft candy stage" or 238-240 degrees F. Immediately remove from heat.
Place the Baileys, vanilla extract, and 1 tablespoon of water in a bowl of you stand mixer and sprinkle the gelatin, then mix a bit to dissolve. Set aside.