1. Mix wafer crumbs and margarine; press onto bottom and up side of 9-inch pie plate.
2. Add boiling water to dry jelly powder in medium bowl; stir 2 min. until completely dissolved. Add ice cubes; stir until jelly is slightly thickened. Remove any unmelted ice. Add Cool Whip; stir until well blended. Gently stir in peaches.
3. Refrigerate 15 min. or until mixture is thick enough to mound; spoon into crust. Refrigerate 3 hours or until set.