In large bowl mix flour, sugar and salt. Cut in shortening till crumbly. Reserve 1 cup of mixture. To the rest of the crumb mixture add baking powder, milk, eggs and vanilla. Beat well.
Spread into greased 13x9 pan. Bake at 350° for 25 minutes or until set. Meanwhile, in bowl, beat cream cheese till fluffy. Add Eagle Brand milk. Stir in lemon juice and peaches and half of the nuts and cinnamon.
In another bowl combine reserved crumbs and remaining nuts and cinnamon and brown sugar. Spoon peach mixture on top of cake and sprinkle crumb mixture on top. Bake 35 minutes longer or until set. Serve warm.