Ferm Chamber Ideas

I have came across what i think will be a super ferm chamber but i am looking for idea's on how to make it work.

What i have is a open top cooler with no lid. Its wide enough for 2 carboys. 1 sits on the bottom of the cooler the 2nd sits about 12inchs higher above the compresser.
Problem i am having is with a airlock i would need to build a lid that would be like 12-14 inch's taller. Thus i think a blow off tube would be the way to go saving on "lid" space.

The sides of the cooler dont seem to get cold. I have seen other posts with guys using the pink insulation board.
Could i pick up a sheet of this and not need...say plywood?

How to attach it was my next problem. plywood would work but having good room even with a blow off the lid still needs to be 6-8 inchs tall so i dont kink the hose. If the plywood was screwed to the cooler i am affraid it will be to much of a reach down and up with a full carboy.

I would get ya a pic to help ya out more but it says i cant post attachments for some reason.

You can make a lid entirely out of insulation board glued together with spray foam. Just build it tall enough to clear. It doesn't need to be attached, some soft foam sealer where the edges meet would be enough.

how thick of insulation board would do without going overkill?

Is it durable enough not the "chip" apart every time you lift it off and put it back on?
I have never worked with it before so sorry for the stupid questions