Heat oven to 350°F (325°F for dark cookie sheet). Place biscuits on microwavable plate. Microwave uncovered on High 30 to 40 seconds, turning biscuits over halfway through microwave time, until soft enough to press into rounds.
Spray cookie sheet with cooking spray. Place biscuits 3 inches apart on cookie sheet. Press each into 5-inch round with 1/4-inch-high rim around outer edge.
For each pie, spoon half of peaches onto biscuit. Crumble 1 cookie dough round evenly over peaches. Top with 1 tablespoon chips and 1 tablespoon coconut.
Bake 22 to 28 minutes or until edges are deep golden brown. Cool 5 minutes. Serve warm with ice cream.