Combine peaches, 2 tablespoons sugar, and 1/2 teaspoon cinnamon. Sprinkle flour over work surface. Separate biscuits; place on floured surface. Roll each biscuit to a 4 1/2-inch circle. Place one heaping tablespoon peach mixture over half of each circle. Brush edges of circles with water; fold in half. Seal edges by pressing with a fork.
Place pies on a ungreased baking sheet; coat with cooking spray. Combine remaining 1 tablespoon sugar and 1/4 teaspoon cinnamon; sprinkle over pies. Bake at 375° for 10 minutes.