Preheat oven to 375°.
Separate dough into 4 rectangles.
Place on baking sheet, overlapping edges to form a 13x7-inch rectangle.
Press edges and perforations together to seal.
Mix nuts raisins, preserves, and 1/2 teaspoon of the lemon peel.
Spread in a 2-inch-wide strip lengthwise down center of dough.
Make cuts 2 inches apart on each side of rectangle from outside edges just to edge of filling.
Fold strips atop filling, alternating strips from opposite sides to give braided appearance.
Fold ends under.
Bake in 375° oven 15 to 20 minutes.
Mix sugar and milk.
Drizzle over bread.
Top with remaining peel.