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1. For a charcoal grill, arrange medium-high coals on one side of a grill. Test for medium heat above the empty side of the grill. Brush peach halves with canola oil. Place halves, cut sides down, on a grill rack directly over coals for 3 minutes until lightly browned. Remove from heat.
2. Cut peach halves into wedges. In a large mixing bowl toss peaches with 1/2 cup sugar, basil, cornstarch and lemon juice.
3. On a lightly floured surface, roll each crust to a 12-inch diameter. Coat a 9-1/2 to 10-inch cast iron skillet with nonstick cooking spray. Line the skillet with one of the crusts, the dough should come 3/4 of the way up the sides of the pan. Place the peach mixture into the pie crust in the skillet. With a sharp knife, cut several slits in the center of the second crust to vent steam. Place the second crust over the pie filling. Tuck any extra dough at the edges between the side of the skillet and the bottom crust. Crimp edge. In a small bowl combine the beaten egg and water. Brush the pie with egg mixture, then sprinkle with the remaining 1 tablespoon sugar.
4. Place the skillet on the grill rack over the empty side of the grill. Cover and grill for 1 1/2 to 2 hours or until crust is golden and filling is bubbly, rotating once halfway through grilling time. (For a gas grill, preheat grill. Reduce heat to medium. Adjust for indirect cooking. Grill as directed above.) Cool the pie on a wire rack 30 to 40 minutes before slicing. Makes 12 servings.