There are two ways to arrange peltiers: on top of one another(in series, also called cascade), and next to one another (in parallel).
Putting peltiers in series can produce very low temperatures. Say the two peltiers have a max dT of 70C, by putting two in series you now have a max dT of 140C. Two peltiers in series pull the same amount of heat out they just lower the temperature more. The <b>big</b> downside to arranging your peltiers this way is that the one on top has to handle the heat from the processor <b>plus</b> the heat from the bottom peltier. The top Peltier has to be about twice as powerful as the bottom. I don't suggest trying this method, it is very difficult to balance your peltier's correctly.
A better way would be placing them in parallel. This arrangment has the normal max dT of 70C (or whatever), but doubles the heat pumping capacity (assuming they are the same peltier). It is better simply because it is more efficient. Niether peltier has to do any <i>extra</i> work.
Remember that the relationship between the actual temperature difference and the amount of heat that has to be removed is an inversly proportional relationship. Meaning that the more heat that has to be removed the lower the temperature difference. If your peltier has a max Q of 65 watts and your trying to overclock an Athlon, then the temp drop would probably be next to none because an overclocked Athlon produces about 65 watts. Likewise the only way that you will see the max temperature drop is if the peltier doesn't have to pump any heat away. Another thing to think about is that most peltiers have a max efficiency when they are run at about half power. I suggest you try to find the dT(temp difference) vs. Q(heat removal) graphs on the peltier manufactures website to determine what size peltiers you need, how many, their total current draw, etc...
It took me tens of hours on the internet and a semester of thermodynamics to understand this stuff. Good luck on your project
