Set pie crust to the side. Slice peaches and place in bowl. For the rue add equal parts of butter and flour and bring to a boil. In a sauce pan add nectar, peach punch, food coloring and add rue mixture. Fold over sliced peaches and mix together. Place in pie crust and refrigerate for up to 8 hours or well chilled. To make whip topping add heavy cream, vanilla, and sugar, then blend till whipped. After pie has chilled, slice and place on plate with some whipped topping and enjoy!