In a small bowl whip heavy cream until it becomes thick. Add powder sugar, and a splash of vanilla. Whip again until light and fluffy. Cover and chill.
In a large bowl whisk together flour, baking powder, salt and sugar.
Preheat oven to 395°. Line baking sheet with silicone baking mat or parchment paper.
Cut shortening and butter into dry ingredients, with a pastry blender, until small pea size crumb forms. Add buttermilk and milk. Mix until just combined and a sticky ball forms. Do not overmix dough.
Place dough onto well floured surface. Gently roll the dough around in the flour. Knead 3-4 times. Pat into a large disc about 1 inch thick. Flour biscuit cutter and cut out 4 biscuits. Gather the scraps and form a fifth biscuit. Place biscuits on prepared baking sheet about 1/2 inch apart.
Brush the top of each biscuit with heavy cream. In a small bowl combine 1 Tablespoon sugar and 1/2 teaspoon cinnamon until well blended. Sprinkle cinnamon sugar on top of each biscuit.
Bake biscuits in preheated oven for 12 minutes or until lightly golden and double in size. Remove biscuits from baking sheet.
While biscuits are baking in a large skillet, over medium heat, melt 1/4 cup butter. Saute diced peaches till they turn slightly golden around the edges. Add brown sugar, cinnamon, nutmeg, cardamon (optional) and a hefty squeeze of lemon juice. Continue to cook over medium heat until brown sugar is completely dissolved and the sauce is bubbly.
Remove from heat. Cut a shortcake in half. Place bottom on dessert dish. Spoon warm peaches over bottom of biscuit. Place top on over peaches. Add another scoop of warm peaches and top with chilled whipped cream. Garnish with nutmeg.