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Preheat the oven to 400 degrees F (200 degrees C).
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Submerge peaches in boiling water for about 1 minute. The amount of time required to make the skin easy to peel varies with the degree of ripeness: if really ripe, it may take less time. Remove peaches with a slotted spoon, and run cold water on them. Slip off skins.
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Cut peaches into wedges, and place in either a deep 10-inch pie plate or a 2-inch-deep 2-quart baking dish. Toss peaches with lemon juice and 1/2 cup sugar. Cover dish with foil.
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Bake in the preheated oven 15 minutes, or until peaches are hot and bubbly.
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Whisk together flour, 3 tablespoons sugar, baking powder, and baking soda. Cut in butter with a pastry blender until mixture resembles small peas. Pour buttermilk over top, and toss with a fork until the mixture clumps together.
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Remove hot peaches from oven, uncover, and drop heaping tablespoons of dough over peaches. In a small cup, mix 2 teaspoons sugar and nutmeg. Sprinkle over biscuits.
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Bake until biscuits are golden brown, about 30 minutes. Set dish on wire rack to cool 10 to 15 minutes before serving.