Trim brown crusts from pound cakes using a serrated knife. Discard crusts. Cut each cake into 1/2-inch slices. Line bottom and sides of a 9X5-inch loaf pan using plastic wrap, allowing a 4-inch overhang on all sides. Place 1 tablespoon of the preserves in a microwave-safe bowl, chill until ready to use.

Arrange 6-8 cake slices, side by side, to cover the bottom of pan in 1 layer, trimming slices if needed to fully cover the bottom.

Spread 2 cups of softened ice cream over cake layer to edges of pan. Spread half the remaining peach preserves over the ice cream layer.

Repeat layers of cake slices, ice cream, and peach preserves. Top with last layer of cake slices. Pull plastic wrap up over the cake, covering it tightly. Freeze 8 hours.

Beat heavy whipping cream and vanilla extract in the bowl of an electric mixer on high speed until foamy, about 30 seconds. Slowly add powdered sugar and continue to mix until stiff peaks form, about 1-2 minutes.

Remove cake from freezer. Using the plastic wrap overhang, pull cake from pan. Invert onto serving platter and fully remove plastic wrap. Spread whipped cream over cake.

Melt remaining peach preserves in microwave on HIGH power until melted and smooth, about 10-15 seconds. Mash large lumps with the back of a spoon. Gently stir in peach slices to coat. Spoon mixture over cake; serve immediately.