Combine wine, water, sugar, cloves, nutmeg, cardamom, allspice, orange and lemon peel in a large saucepan. Bring to a simmer over low heat. Simmer for 20 minutes. In order to not cook out all of the alcohol from the wine, you will want to heat this low and slow. Once warmed, strain out through a mesh strainer. Serve warm and garish with lemon or orange peel (can use the ones that were cooked since they are full of flavor).