Preheat oven to 400 F.
Mix flour, 2 tablespoons sugar, salt and baking powder in a bowl.
Cut in butter as for a pie crust.
When thoroughly mixed, dump into a 9-inch cake pan and press on the bottom and up the sides about 1 inch.
Cover the bottom of the crust with peaches, cut side down.
Mix 1 cup sugar, cinnamon and nutmeg and sprinkle over the peaches. Bake for 15 minutes.
Mix egg yolks with the cream/milk.
When baking is done, remove from the oven and pour egg mixture over the top.
Continue baking for 30 minutes. Serve warm with ice cream or half and half.