And Peace's lawyer confirmed that the former X-rated film actress has been interviewed by prosecutors and testified before the grand jury probing Cowlings.
Known to porn fans as "Devon Shire," Peace said Cowlings, whom she used to date, allegedly told her that Simpson killed his 35-year-old ex-wife and Goldman, 25.
The much-sought murder weapon, Cowlings allegedly told her, "sleeps with the fishes" in some unidentified body of water.
Peace also told Time that Cowlings conceded that Simpson's legendary June 17 flight from justice was a no-holds barred "escape attempt."
"They weren't going to no gravesite," Peace said, debunking Simpson's claims that they were going to his ex-wife's grave. "They weren't clear on anything. But then they saw 40 cops and 15 choppers, and they said, 'Hmmm, maybe escaping isn't such a good idea.' "
Meanwhile, the Los Angeles Times reported that Peace told the grand jury that Cowlings told her the bloody gloves found at the scene of the killings and Simpson's estate were Cowlings', that Simpson gave him the bloody knife to dispose of, and that he and Simpson were hoping to flee to Mexico.
Peace's suggestion to Time magazine that Simpson stalked Goldman the Friday before the killings offers the first hint that the former gridiron great even knew of Goldman, an aspiring model.
Friends have insisted that Nicole Simpson and Goldman, a waiter at Brentwood's trendy Mezzaluna restaurant, were not romantically involved. But Goldman had been spotted speeding around town with Nicole Simpson in her white Ferrari.
Peace said Cowlings had told her that Simpson didn't go to his ex-wife's townhouse that ill-fated night to kill her.
"He had the knife on him, and he got so angry, he went into a rage and almost blacked out over what happened," she said.
Lawyers for both Simpson and Cowlings dismiss Peace's account as unbelievable.
Reports that the 23-year-old actress tried to sell her story to a supermarket tabloid and that she once claimed to be pregnant by baseball star Barry Bonds have been leaked since she stepped forward.
In another development, the parents of Nicole Simpson were made legal custodians yesterday of their slain daughter's two young children with O.J. Simpson, the Associated Press reported.
Simpson filed court papers two weeks ago agreeing to the guardianship while he is in jail and the arrangement was approved by a probate judge.
Sydney Brooke Simpson, 8, and Justin Ryan Simpson, 6, have been staying with their maternal grandparents, Louis H. Brown and Juditha Brown, at their seaside home since their mother's death.