Cheap chinese TEC's like the one you linked to will probably not last very long (seconds, hours, weeks who knows?)
Do you have a spare 400w on your power supply to feed the TEC?
The heatsink you suggested is way too small, it has to cope with the 400w from the TEC as well as 275w or whatever from the GPU. Realistically a custom water cooling setup is the only option with a TEC of that size.