01 - Combine warm milk, warm water, and granulated sugar in a large bowl. Sprinkle active dry yeast over the surface and let stand for 5-10 minutes until mixture becomes frothy and activated.
02 - Whisk melted butter, eggs, and salt into the yeast mixture. Gradually incorporate flour, mixing until a soft, tacky dough forms that pulls away from the sides of the bowl.
03 - Turn dough onto a lightly floured surface and knead for 8-10 minutes until smooth and elastic. Transfer to a greased bowl, cover with plastic wrap or a clean towel, and let rise in a warm, draft-free area for 1-1.5 hours until doubled in volume.
04 - Melt butter in a saucepan over medium heat. Add diced peaches, brown sugar, cornstarch, cinnamon, and nutmeg. Cook, stirring frequently, for 5-7 minutes until peaches are tender and mixture thickens into a jam-like consistency. Remove from heat and cool completely.
05 - Combine brown sugar and ground cinnamon in a small bowl, stirring until evenly blended.
06 - Punch down risen dough to release air. Roll out on a floured surface into a 16x12-inch rectangle, maintaining even thickness throughout.
07 - Spread softened butter evenly over the dough surface. Sprinkle cinnamon sugar mixture across the buttered area, then distribute cooled peach filling in an even layer.
08 - Starting from the long edge, roll dough tightly into a log. Using a sharp knife or dental floss, slice crosswise into 12 equal pieces, approximately 1.5 inches thick.
09 - Place rolls cut-side up in a greased 9x13-inch baking dish, leaving space between each. Cover and let rise in a warm area for 30-45 minutes until puffy and nearly doubled.
10 - Preheat oven to 350°F. Bake rolls for 25-30 minutes until golden brown on top and cooked through in the center. The internal temperature should reach 190°F when fully baked.
11 - Whisk powdered sugar, milk, vanilla extract, and salt in a small bowl until smooth and ribbon-like in consistency. Add additional milk 1 teaspoon at a time if glaze is too thick.
12 - Drizzle warm glaze generously over rolls immediately after removing from oven, while still slightly warm. Serve within 30 minutes for optimal texture.