Step away from the DIY phase - seriously!
Chillers are very effective at achieving what you are talking about, (see sig) - but they tend to be adapted from the chillers that keep beer cold in pubs. The fridge, as above, simply doesn't have the oompfff.
Phase is great - and relatively inexpensive now, look for an upgrades Mach 1 or Mach 2 ideally with the Chilly1 head (can't remember the name of its successor now that Chilly has, ironically, fled to warmer climes!) But DIY phase is not for the faint hearted - dealing with the gasses involved requires a great deal of skill, more than just a 'quick read' anyway.
Pelts are great, but not much good on the radiator - remember that you will also have to cool the hot side with a decent water rig, so it starts to get very expensive very quickly.
If you want ghetto, grab yourself a cheap chiller (R12 or better) capable of losing around 400W of heat, and get yourself a 226W pelt. The 2 together will give you some frosty temps - but be prepared to lag EVERYTHING!
Really, with C2Ds and beyond, the gains are seldom worth the investment, but it can be good fun, especially if you do go fully ghetto and end up with the standard frankenstein machine - but remember you will also need a dedicated power source for the TEC (pelt) - meanwell are excellent, but a cheap chinese version is available for about half the price.
Make sure you read around the subject though - get your sums wrong and you get this: