Kind of reminds me of the copper wire coil I saw in HomeDepot. How big are those loops? Sized to fit into your brewpot?
Also, you need to be able to bend two ends straight up without folding it. I've heard you need to seal it full of water to prevent folding. I might recommend bending them around a tin can, but that's just a guess to make it gentle. A little extra equipment, and it's a really sweet wort chiller. Much like mine, I payed 40 bucks for, with a third the coils.
Malty!