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Combine first 3 ingredients in a large saucepan; stir well. Stir in amaretto, if desired, and peach preserves. Add sliced peaches, and stir gently to coat. Cook over medium heat, stirring frequently, until mixture is thickened and bubbly. Spoon peach mixture into a lightly greased 11 x 7 x 1 1/2-inch baking dish.
Place cookie dough between 2 sheets of plastic wrap on a cookie sheet; roll to a 10 x 17-inch rectangle. Remove top sheet of plastic wrap, and sprinkle dough with 1 1/2 teaspoons of flour; gently rub flour into dough. Repeat procedure on other side of dough. Freeze dough 15 minutes.
Cut 6 (10 x 1/2-inch) strips of dough, using a pastry wheel. Cut 8 (6 x 1/2-inch) strips of dough. Arrange strips in lattice design over peach mixture in dish. Combine 1 1/2 tablespoons sugar and 1/4 teaspoon cinnamon. Sprinkle over cookie dough. Bake at 350 degrees F for 30 to 35 minutes or until golden brown.
Let cobbler cool 15 minutes on a wire rack. Spoon into individual serving bowls, and top with ice cream.
Yields 8 servings.
NOTE: Slice and bake remaining cookie dough according to package directions. Serve additional cookies with cobbler and ice cream, if desired.