Place the diced peaches in a food processor or blender and purée until smooth. Add the milk, heavy cream, sugar, vanilla and cinnamon to the food processor or blender, and blend until all the ingredients are well combined. Chill the mixture for 2 hours if you have the time (the ice cream will set up a little faster if the mixture is chilled). Otherwise, proceed with the recipe right away.
Pre-heat your waffle maker.