Preheat the oven to 350°F. Spray a 9x13-inch baking dish with non-stick spray. Set aside.
Prepare the peach filling: In a large bowl, combine all the ingredients for the peach filling. Spread the peach mixture into the baking dish.
First bake: Bake for 10 minutes.
Prepare the biscuit topping: While the peaches are baking, mix together all the ingredients for the biscuit topping. Stir them together in a medium bowl. A Danish dough whisk works great for this. The mixture should be thick, but spreadable.
Add the topping to the peaches: Remove the peaches from the oven. Spoon the biscuit topping over the peaches. Spread with a spoon or spatula to cover the peaches.
Add the cinnamon sugar: In a small bowl, stir together the sugar and cinnamon for the topping. Sprinkle over the biscuit topping.
Finish baking: Return the cobbler to the oven and bake another 40-50 minutes, until the peaches are bubbling and the cobbler is a light golden brown. Test for doneness by inserting a toothpick into the biscuit topping. If it comes out clean, it's done.
Place the baking dish on a wire cooling rack. Allow the peach cobbler to cool for 15 minutes before serving. Serve warm and add vanilla ice cream or whipped cream - it's so delicious!