For what it's worth, when I ran the drinking contest, the winner barfed. He just managed to drink more beer before doing so than anyone else did. So it was more like "roll and be out" than "roll and lose." I like your idea of losing a turn, though.
And the idea of physical representation of the pies is brilliant! Even better, how about a pile of peanut butter cups or something similar, and then the players can actually eat them? You could count the empty wrappers at the end.
