I can agree with that, but I don't think the Feds need to be involved.

If your kid has a peanut allergy it is up to you as a parent to get the severity of the allergy assessed and warn local school officials that he is at risk.
That's the the point where you can start telling other kids not to bring peanuts.
The school nurse can be issued an injector for emergencies. The older kids can carry it around. They should be anyway. Peanuts can be sneaky.

A few allergies on a tiny minority of kids shouldn't impact the whole country.