Combine first 3 ingredients and cut in the 1 cup of butter with a pastry blender until mixture is crumbly. Sprinkle 1/3 cup milk, 1 tablespoon at a time evenly over surface; stir with a fork until dry ingredients are moistened.
Divide dough into 6 portions. Roll each portion of dough into a 7-inch square on a lightly floured surface.
Combine sugar and next 5 ingredients; reserve 2 tablespoons of this mixture and set aside. Coat each peach with remaining sugar mixture and place in the center of a pastry square.
For each dumpling, moisten edges of dough with milk and pull corners of square over peach; pinch dough together sealing all seams.
Freeze the dumplings for 30 minutes.
Place dumplings in a lightly greased 13x9-inch baking pan. Drizzle each one with a teaspoon of butter and sprinkle with reserved sugar mixture.
Bake at 425°F for 35 minutes. Drizzle with honey before serving.