Cream of coconut can be found in the beverage aisle of your grocery store.
Drain mango slices, reserving 1/2 cup liquid. Process mango slices and peaches in a blender until smooth, stopping to scrape down sides. Pour peach mixture into a large container.
Process reserved mango liquid, cream of coconut, and lemonade concentrate in blender until smooth. Add coconut mixture and rum to peach mixture, stirring until combined. Use immediately.
Process 3 cups peach mixture with 2 cups ice in a blender until smooth. Repeat with remaining peach mixture and ice.
*1 (20-oz.) bag frozen sliced peaches, thawed, may be substituted.
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