Well, no, I don't think you can and
achieve the desired flavours. Pepperonis and salamis are a hard sausage, while the chorizo is a soft sausage. Chorizo is also a very regional product, even though it follows the same general ingredients from Spain to Portugal to Mexico etc. That being paprika and about 4 hours of hot smoking (though not always). Some home makers will actually leave their sausage hanging in the stoves smoke stream all the time and over time it becomes smokyer and harder. There are also differences in the paprika. There are some that have hot peppers added for a spicyness, there are some that are smoked themselves before being ground.
I would say, that if it is the flavour of smoke and paprika that you really want, you won't find that in pepperonis or regular salamis. Hungarian or Gypsy salamis would be the better sub I think, but these are not usually smoked. I would sugest also using a bit of smoked bacon, ah, however...........
There are a few members here that are more Spanish than I am (I really never knew my grandmother was Spanish!) that can attest to creating a taste better than I, but if it was me, that is how I would do it. Thankfull, there is a large Portugeese population in town, and a local shop that makes this dayly by the ton! Not kidding, from 6 AM to 8 PM 6 days a week, on a smoker that is easly 12 feet to a side, and multylayered!!
Here is a site I have enjoyed for many years. I have made many of the fresh sausages they list, and they are very tasty.http://home.pacbell.net/lpoli/page0003.htm
Download and read the different Chorizo recepis and see the differences.