Hi,
ASA cannot do what you want. You can define hostname on a set peer command but hostname is reffered to the name command on ASA. So DNS doesn't get involved in this process. If you've got dynamic ip addresses on both sites,you cannot do this. It's possible if you have a static pubic ip address on one site, you can do site-to-site VPN but you need to generate interesting traffic on the site using dynamic public ip address first to build the tunnel.
Hope ASA can do this someday soon (grin)
HTH,
Toshi