[2] After this, he began his managerial career coaching Killam's Junior B team at age 24 before moving to Texas for his wife's nursing job.

Peters then took his first head coaching job with the University of Lethbridge and guided its Pronghorns ice hockey team for three seasons from 2002–03 through 2004–05.

After the Chiefs won the 2008 Memorial Cup, Peters left Spokane[7] and was named head coach of the Rockford IceHogs of the American Hockey League (AHL) on August 1, 2008.

Eight players who played for Rockford during Peters' tenure went on to win the Stanley Cup with the Chicago Blackhawks in 2010 or 2013: Niklas Hjalmarsson, Jordan Hendry, Antti Niemi, Corey Crawford, Kris Versteeg, Bryan Bickell, Nick Leddy, Brandon Bollig and Ben Smith.

On June 19, 2014, the Carolina Hurricanes announced that Peters had been hired to replace the vacant head coach position, previously held by Kirk Muller.

On November 25, 2019, an accusation of racism was made by former Rockford IceHogs player Akim Aliu on Twitter, alluding to racial profanities Peters directed towards him.

[20] Peters served as head coach of the gold medal-winning Canada men's national under-18 ice hockey team at the 2008 Ivan Hlinka Memorial Tournament.

That under-18 team included future NHL stars Taylor Hall, Ryan O'Reilly, Brayden Schenn, Evander Kane and Matt Duchene, among others.