In large saucepan, heat water and sugar on medium heat and stir constantly until sugar is dissolved.
Stir in lime, lemon, and orange juice.
Remove from heat and add wine and peach schnapps, stir.
Transfer to 13x9 glass or metal baking dish.
Cover and freeze for one hour then use a fork to stir up the slushied contents of the granita.
Return to freezer and freeze at least 2 more hours, stirring/scraping again with a fork after another hour.
Use a fork to break up the granita before serving.