DISSOLVE cornstarch in 1/2 cup water in small bowl. Combine remaining water, evaporated milk, coconut milk, sugar, salt, lime peel and vanilla extract in medium, heavy-duty saucepan. Stir in cornstarch mixture. Cook on medium- high heat, stirring constantly, until mixture begins to thicken. Reduce heat to medium. Continue cooking, stirring vigorously, until mixture boils. Let boil for about 1 minute, stirring constantly. Remove from heat. Discard lime peel.
RINSE 4-cup gelatin mold or 9-inch glass pie plate in cold water (leave a very thin film of water on inside of mold). Pour mixture into mold. Let cool. Cover; refrigerate at least 4 hours or overnight until set.
TO UNMOLD: Run point of knife around top of mold. Dip mold into large pan of warm water for 15 to 20 seconds. Lift from water. Place serving platter on top of pan. Invert mold and platter together. Shake slightly to loosen. Gently remove mold. Sprinkle with cinnamon powder before serving.
NOTE: Can serve in individual dessert dishes instead of mold.