When touring album peaks (4)
I believe the answer is:
alps
'peaks' is the definition.
(I've seen this in another clue)
'when touring album' is the wordplay.
'when' becomes 'as' (eg 'when I walked' means 'as I walked').
'touring' means one lot of letters goes inside another (tour can mean to go around).
'album' becomes 'LP' (abbreviation for a long-play record).
'as' placed around 'lp' is 'ALPS'.
(Other definitions for alps that I've seen before include "Eur. mountain range" , "Slap (anag.)" , "European mountain chain" , "European mountain range" , "With pals in great mountains" .)