Place marshmallows and milk in a large microwave-safe bowl.

Microwave, uncovered, on high for 1-2 minutes.

Stir until smooth; set aside.

Finely chop the peaches; mash lightly with a fork or pulse in a food processor until finely chopped.

Add to marshmallow mixture.s

Stir in extract.

Fold in whipped topping; pour into crust.

Refrigerate for 2 hours.