Before you start looking at writing a solution like this I think you should go back to basics and read up a bit on various authentication systems and how they work. I think you'll find you are barking up the wrong tree.
I have a passive fingerprinting system that keys off the user agent, network, route, etc. It also has an option to see around many proxy servers by using other protocols. In addition have an active fingerprinting system that profiles the users TCP/IP stack as well as any services they are running. This is very effective at detecting the same person logging in as different users. Even if they change their IP, clear their cookies, and restart their browser. But it it far from foolproof, and I wouldn't even dream of relying on it to replace session ids.
If you're worried about security try SSL. Then use the session ids/ cookies that are relatively secure within the SSL tunnel. If you want to keep an eye out for users who are cheating then add some fingerprinting and profiling on top of that. Session ids and SSL were designed to do what you want. Don't try to reinvent the wheel, especially if you haven't yet learned to make fire.