It is possible to use Cereus peruvianus as grafting stock but the selection of scions are limited.
The key of successful grafting is the selection of a similar hardness between scions and stocks.
If you used a cuttings of peruvianus as the stock, seedlings and young small cacti are difficult to graft because they have different hardness.
Relatively old and large scions suite to graft onto peruvianus cuttings.
If you can get peruvianus seedlings, the scion selection will be wider.
I think C. peruvianus was used often as grafting stocks around 1930s.