Answer: Your can deadhead (remove the faded flowers), but leave as much foliage on the plant as possible. It needs the foliage to stay healthy and rebuild its strength so it can bloom next year. Most of the larger flowered peonies require support to remain upright. You may be able to prop it up now if you carefully gather it up and encircle it with strng and stakes around the perimeter. Then run some additional string through the center of the plant to make some crosswise supports. You do not want to tie it up tight, your goal is to provide some support to help it stay more upright. Next year, consider installing a peony ring or a string support system in early spring just as it begins to grow. That should keep it from falling over. I hope this helps.
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