Step 1

Preheat the oven to 300 degrees F.

Step 2

Grease a 10-inch fluted tube pan.

Step 3

In a single layer, add 1/2 of the peach slices to the bottom of the prepared fluted pan. Set the pan aside.

Step 4

In a small bowl, add the brown sugar, the cinnamon, and the nutmeg and whisk to combine.

Step 5

Evenly sprinkle 1/2 of the brown sugar mixture on top of the peach layer in the pan. Set aside the remaining brown sugar mixture.

Step 6

Evenly pour 1/4 cup of the salted melted butter and the bourbon on top of the brown sugar mixture layer in the pan.

Step 7

In a large bowl with an electric stand mixer or a hand mixer on high speed, add 2 sticks of the unsalted butter and the granulated sugar and beat until fluffy and light in color, about 3-5 minutes.

Step 8

Add the cream cheese to the sugar mixture and beat until combined, about 2 minutes.

Step 9

Add the eggs, 1 at a time, to the cream cheese mixture and beat well between each addition.

Step 10

Add the flour, the baking powder, and the salt to the cream cheese mixture and beat to combine.

Step 11

Add 1 tablespoon of the vanilla extract and 1/3 cup of the milk to the cream cheese mixture and with a spatula, scrape down the sides of the bowl, and beat until well-combined into a batter. Be careful not to overmix.

Step 12

With a spatula, evenly add 1/2 of the batter to the pan.

Step 13

Evenly add the remaining peach slices to the top of the batter.

Step 14

Evenly sprinkle the reserved brown sugar mixture on top of the peach layer in the pan.

Step 15

Evenly spread the remaining batter on top of the brown sugar mixture layer.

Step 16

Gently tap the pan on a work surface to eliminate any large air bubbles.

Step 17

Carefully transfer the pan to a baking sheet to avoid any spills during baking.

Step 18

Bake until a toothpick inserted into the center comes out clean, about 1 hour.

Step 19

Transfer the baked cake from the oven to a wire rack and let it cool in the pan, about 10-20 minutes.

Step 20

Transfer the cooled cake to a serving plate and let it cool completely.

Step 21

When the cake is cool, in a medium bowl, add the confectioners' sugar, the remaining vanilla extract, and 2 tablespoons of the remaining milk and whisk to combine. The glaze mixture should be smooth and pourable. Add the extra milk, a little at a time, if needed to achieve the desired consistency.

Step 22

With a fork or a spoon, drizzle the icing mixture over the cooled cake.

Step 23

With a serrated knife, cut the iced cake into serving-sized slices and serve.