Chill a martini glass by packing it full of ice then filling it with cold water; set aside.
Fill a martini shaker 3/4 full with ice. Pour in peach and grapefruit vodkas, triple sec, cranberry juice, grapefruit juice, and lime juice; squeeze and drop lime wedges into the shaker. Cover and shake vigorously at least 20 times until outside of shaker is frosted.
Discard ice from martini glass. Strain cocktail into martini glass and garnish with a twist of lime.