If you're going to all that work, why not just rig up a fan to blow cool air from the fridge? I would think that's more cost effective and will likely turn out better. Peltier is pretty neat though.
I've thought about cooling towers... one idea that came to mind was to slide a piece of plastic inside of the tower that could divide the space. Use a thin piece of plastic sheeting, could even be coroplast you can get at Home Depot. Don't slide the plastic in all of the way up into the tower, you need space at the top. Then have a fan blow air up one side of the divided space and the air will flow back down the other half of the divided space. This would also help the kegerator move air around within.
I actually just thought of another idea.... you could run smaller tubing, braided with the beer line that has constant flow. Use a thin walled tubing, maybe even copper tubing. Cool the fluid inside of the tubing from within the kegerator or use peltier as a way to cool the fluid.
I think the air flow through the tower is the most cost effective and cleanest method. I ended up doing door mount and plan to mount my mini fridge on a small platform.