Although it is a very interesting topic (meaning the subject of cryptography), I don't see why this is relevant to Cotonti.
As others have said before me, you're basically combining various existing encryption techniques and adding a salt. This will hardly result in anything more secure than current encryption standards (s.a. MD5 or SHA1).
As urlkiller mentioned, PHP isn't suitable for stuff like this. In my opinion, when you need anything better than MD5, you're better off using another programming language (I would recommend you try Malbolge