40 is pretty cold for even lager strains of yeast. I would insulate the fermenter as well as possible inside the chest freezer to maintain the beer temps more consistently. Wrap in sleeping bag or something similar.
Bigger question is: if you have a temp regulator on your chest freezer, why not bring it inside? Or at least garage where it might be warmer? Would make a perfect lager.
Primary #1: Empty #2: Black IPA
Secondary #1: Blackberry Rhubarb wine #2: RIS #3: Cab MerMarqeNac Wine
Kegged: Pumpkin Ale, Pre-Prohibition Lager
Bottles: Carmel Apple Cider, Big 50 Barleywine, Framboise Lambic, Barolo Wine, Berry Rhubarb Wine, Black Currant wine
On Deck: BGSA