Your pelt idea isn't a good one, trust me, when I was first looking into water cooling I was thinking of the same thing
It will require a seperate power supply with a lot of juice assuming you'd want to effectively cool down the water which takes atleast a 100w or more peltier....not to mention they suck electricity like beasts so as far as cost of electricity bill goes it wouldn't be worth it.
If you really wanted to use a pelt you'd be best off making it part of the CPU, and liquid cooling the hot side with your kit and using a copper plate as the 'cold plate' to make contact to the CPU and the cold side of the pelt....of course you'd need lots of neoprene and dielectric grease to prevent condensation, overall it's not worth it.
as far as nonconductive solution goes, I'd suggest getting the MCP-5 stuff or -40 from dangerden.com, don't mess with fluidXP which is more expensive and doesn't work as well.
Distilled water won't conduct electricity though either, sooo really all you need is distilled water with a 5-10% mixture of zerex to kill bacteria and prevent corrosion (this is assuming you're using all copper and brass in the loop....adding aluminum is a BAD idea and will cause tons of problems)
Chipset cooling will kill flow BTW....they really aren't worth it.
Just leak test and things like that, make sure you got good seals, and have zipties to hold the tubing on and you'll be OK