Pour the Water into a large measuring cup with a spout. Sprinkle the Gelatin over the Water, and let the Gelatin bloom for 15 minutes, until completely dissolved.
Add the Sweetened Condensed Milk to the Gelatin, and stir well.
Divide the Gelatin into two separate dishes, and add the Rum Chata, to one of the dishes, stir well, and set aside.
In the other dish, add the Torani Peach Syrup, and the Peach Schnapps, and stir well to blend completely.
Pour the Peach layer into the Shot Glass, filling it about half way, and repeat until you've filled all the glasses.
Place in the refrigerator for 30 minutes to cool and to allow the jello to set.
Remove from the Refrigerator, and fill the Shot Glasses with the White Layer, and place them back in the refrigerator for 30 minutes to cool.
Open the Diced Peaches, and remove the Shot Glasses from the refrigerator.
Place a teaspoon of Diced Peaches on the top of each Shot Glass before serving.