01 - Combine diced peaches, granulated sugar, lemon juice, and ground cinnamon in a medium saucepan. Cook over medium heat, stirring occasionally, for 4 to 5 minutes until peaches begin to soften and release their natural juices.
02 - Whisk cornstarch and water together in a small bowl until smooth to create a slurry. Pour the slurry into the simmering peaches, stirring constantly. Continue cooking for 1 to 2 minutes until the filling thickens noticeably. Remove from heat and allow to cool completely.
03 - Beat softened cream cheese, powdered sugar, and vanilla extract in a large bowl until completely smooth and creamy. Ensure no lumps remain in the mixture.
04 - In a separate chilled bowl, whip cold heavy whipping cream using an electric mixer or whisk until stiff peaks form. The cream should hold its shape when the whisk is lifted.
05 - Gently fold the whipped cream into the cream cheese mixture using a spatula. Incorporate slowly to maintain the airy texture until fully combined and fluffy.
06 - Combine graham cracker crumbs with melted butter in a small bowl. Stir until the mixture reaches the consistency of wet sand and all crumbs are evenly coated.
07 - Spoon a layer of cheesecake filling into the bottom of each waffle cone. Add a spoonful of cooled peach cobbler filling on top. Repeat layering if space permits. Finish with graham cracker crumble and a dollop of whipped cream.
08 - Serve immediately for optimal crunch. Alternatively, refrigerate assembled cones for up to 1 hour before serving, though extended refrigeration may cause cones to become soggy.