Thinly slice the peaches (and peel if desired) and add to a small pot. Add in the brown sugar, cinnamon, nutmeg, salt, and cornstarch.

Cook for 10-15 minutes until the peaches soften and the sauce thickens.

Remove from the heat and let cool to room temperature.

Preheat the oven to 350°F and line a 12 cup cupcake pan with cupcake liners.

Whisk the cake flour, baking powder, cinnamon, and salt together in a large bowl.

In a separate bowl, whisk the brown butter, light brown sugar, granulated sugar, eggs, and vanilla together until combined.

Stir in about half of the flour mixture. Then stir in the milk and the rest of the flour mixture and mix until fully combined. The batter will be thin.

Pour about ¼ cup of batter into each cupcake liner (they should be about halfway full). Bake at 350°F for 18-22 minutes or until a cake tester comes out clean.

Remove from pan and let cool on wire rack. Let the cupcakes cool completely before decorating.

Use a cupcake corer to remove the center of each cupcake, then fill with about 2 teaspoons of spiced peaches.

Add the water to a microwave safe bowl and sprinkle the unflavored gelatin on top. Allow to sit for a few minutes.

Transfer the gelatin mixture to the microwave and microwave for 5-10 seconds, until the gelatin is fully dissolved. Stir the mixture, then set aside to cool slightly.

In the bowl of a stand mixer fitted with the whisk attachment, or in a large mixing bowl using a hand mixer, combine the heavy whipping cream, powdered sugar, and vanilla extract. Whip the mixture until it starts to thicken and soft peaks form, then turn the mixer to low speed.

Slowly pour in the gelatin mixture and mix on low until well combined. Increase the mixer to medium speed and continue mixing until stiff peaks form.

Transfer the stabilized whipped cream into a piping bag fitted with a 1M tip and pipe swirls on each cupcake.

Top with sliced peaches and a sprinkle of cinnamon.