First, if the oil retained too much heat, it only means that the cooling solution was inadequate.
I (finally!) found
a viscosity chart for peanut oil (PDF, 6 pages) (at Jabsco, of all places!)
The good news, is that it's a Newtonian fluid (as those in the know would normally expect), which means that its viscosity remains the same, regardless of the pressure applied to it. (Some odd liquids actually increase in viscosity, simply by applying a higher pressure).
The bad news is that it's got an (estimated) viscosity of 38 cP, at 100 deg F (and from other charts I've seen, it's awfully optimistic).
Here's another chart:
http://www.csgnetwork.com/sgvisc.html
So chewyboy, it's up to you to find a pump that can handle that kind of viscosity!