I have lived and biked for 20 years in Peru, in fact I rode the cordillera area this January on a Honda Transalp 700. I have riden that area all the way north to the Ecuador border and it is FANTASTIC!
fall into the black hole that is the Panamericana Highway! I see by your Lima to Bogota timetable that you won't be able to do ANYTHING BUT race up the Panam. I plead with you to take more time and take the roads up the center of Peru where the views are great, the people honest and friendly, and the lodging cheap.
Sorry I won't be there to ride it with you, but I will recommend the best route out of Lima that goes past the Cordillera:
It's natural that you would think to just head up the Panam to Barranca, then turn inland to the Cordillera.... but if you can spare a few extra days, I will show you the BEST way:
East and North out of Lima is dirty and congested... starts your trip off badly. Day 1 will be a leasurely 131km south to Cerro Azul (a surfing hangout, a personal favorite of the Beach Boys). From there head up the Yauyos Valley (paved one lane...shared by both directions!!) which will put you up over the top (turns to gravel on the last 20%) and to Huancayo up in the central plateau. Go a few miles past Huancayo and stay at the "Lomas Verdes" Inn near Concepcion for night # 2.
Stay a day and check out the silver market there and the Santa Rosa convent... or head on for an all paved magestic ride north across the top of the world from Concepcion to Huanuco. Ever seen Pink Flamingoes at 14,000 feet??
From Huanuco you will ride thru the "back door" of the Cordillera to Huaraz. There are 2 routes to the town of La Union.. one gravel and one paved. the gravel one is more fun but can be confusing and is not exactly like it shows on any map or GPS. not that you will get very lost, but you could be leaving the best part of the days ride for too late in the day if you do lose time. from La Union the pavement turns west. At the high point turn right off on to the gravel road that takes you past the Pastoruri Glacier and thru the national park. It will be well worth it and drop you off on the pavement just 20 or so km south of your destination of Huaraz.
You are now in Huaraz, your destination of yourpersumed first day. Spens at least one day in the area!
The next travel day just leasurely wind your way up the road to Caraz and spend the night. There is a reason not to push on. Unless you are heading down to the boring coast, you will not make anywhere to overnight if you push on. The next push will be some fantastic scenery of 2 days ride north to Huamachuco via the Canyon del Pato (overnight first night in Cabana or Pallasca. From Huamachuco (don't miss the ruins there or the fried trout breakfast at the lake just after you exit the city going north) it is a comfortable day to Cajamarca, the other seat of the Inca Empire that is often overlooked. Spend at least one day in Cajamarca...
Now comes the most fantastic day of riding! You can do it all the way from Cajamarca to Chachapoyas (80% gravel) in one day, but I would recommend going only as far as Celendin the first day. Stay at the Orange B&B there with the Dutch/Peruvian couple that runs it and a great childre's outreach. You will climb out of Celendin going east, round the ridge and see the most amazing view! (I plan to be living right there within 2 years). Remember that spot because 5 hours later you will be able to look back and see where you were!
Over the Barro Negro pass then down past Leymebamba and on to Chachapoyas. I send you to Chachapoyas because it will be the best ride of your whole SA expeience... but also because you cannot miss visiting the fortress of Kuelap (it rivals Machu Picchu) and the Gocta waterfall (3rd highest in the world), both within shouting distance of Chachapoyas.
From Chachapoyas it is all pavement north and back east to Jaen, then a hop skip and a jump (with a day of gravel) to Ecuador...
Feel fre to ask any specifics. Sorry if I seem pushy. there is SO much NOT to miss!