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Cook milk and sugar in medium saucepan over medium heat, stirring, until sugar dissolves, 2 to 3 minutes.
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Whisk eggs to combine in mixing bowl.
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Pour 1 cup hot milk-sugar mixture over eggs, stirring.
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Return to saucepan and stir over low heat until custard thickens, 4 to 5 minutes.
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Stir in almond extract.
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Remove from stove, strain into bowl, cover with plastic wrap so wrap touches surface of custard and refrigerate 1 hour.
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Cut shallow"X" in bottom of each peach and carefully immerse in large pot of boiling water.
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After 15 seconds, remove 1 and try to pull peel back.
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If it comes away easily, remove peaches and rinse under cold water before peeling.
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Cut peaches in half, remove pits and place cherry in center of each half.
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Dip each peach into chilled custard and chill 30 minutes.
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Place 2 peach halves on each of 4 dessert plates, pour remaining custard around peaches and top with whipped cream.