Uh.......Wooden pegs can be made to work quite well and you can probably find someone locally to take care of it.
Homer Ledford's Dulcimers are wonderful and traditional instruments and he may be the best builder of all time......Please consider calling or finding someone locally (violin shops) before you go the mechanical route. This is akin to taking a vintage Martin guitar and turning it into a Dobro. Please consider this.
Or go buy another and sell that one.