Shaiman confirmed to Playbill.com Oct. 22 that Peters will perform a new song of theirs in her upcoming guest appearance. It will have orchestrations by Tony Award winner Jonathan Tunick.

Shaiman and Wittman are the Tony-winning songwriters of Hairspray, Catch Me If You Can and the upcoming London musical Charlie and the Chocolate Factory in spring 2013. The songwriters pen original musical material for "Smash," which centers around the creation of the new Broadway musical Bombshell. 

As previously reported, Peters will reprise her role as Broadway legend Leigh Conroy, the mother of "Smash" Broadway starlet Ivy Lynn. Peters performed the Gypsy stand-out "Everything's Coming Up Roses" in her debut episode, titled "The Workshop," last season.

Megan Hilty (Wicked, Gentlemen Prefer Blondes) stars as Leigh's dysfunctional daughter, Ivy, a former chorus girl elevated to potential leading lady in a new Broadway musical about Marilyn Monroe. Peters was last seen on Broadway in the Tony-nominated revival of Follies.

The second season of "Smash" will also feature "Hairspray" star Nikki Blonsky, Jesse L. Martin (Rent), Academy Award winner Jennifer Hudson, Tony Award nominees Jeremy Jordan and Sean Hayes, and Andy Mientus of Off-Broadway's Carrie.

For the series' second season, Josh Safran succeeds Theresa Rebeck (Seminar) as showrunner — the person in charge of all aspects of the story. Tony Award winners Marc Shaiman and Scott Wittman, and Tony nominees Craig Zadan and Neil Meron are among the show's executive producers.

Before "Smash" returns to NBC, read Playbill.com's weekly recap of the series, The "Smash" Report, beginning with the show's Season One finale.