Although the game is three weeks into the new season, Peters said the players and coaching staff are approaching the game with the same degree of excitement.
"I think with it being Louisville and it's right down the road, it's the biggest game we'll play all year," he said. "Everybody is taking it serious. This is a very important game for us."
Peters knows that a win over the Cardinals would likely vault Kentucky into the Top 25. Although the Cats are off to a 2-0 start and have won seven of their last eight games, pollsters have yet to include Kentucky in the national rankings.
The Cats were tied at 14-14 with Kent State last week before outscoring the Golden Flashes 42-6 in the second half to avoid a potential upset.
Reviewing the film
Peters said the defensive effort in the win over Kent State wasn't as bad in film as the results appeared in person.
"We came off the game with some bruised egos, but when we went back and looked at the film, it wasn't really a totally bad effort," he said.
Peters added that missed reads led to some long gains.
"On their running plays, we had a couple of missed assignments," he said. "If one or two people mess up on their reads, it can get us killed. I think we'll get that fixed."
In order to be successful against the Cards, Peters said the entire defensive unit will have to pick up the pace and focus on slowing down Heisman Trophy candidate Brian Brohm.
"I think we'll have to play faster," he said. "With a guy like Brohm, not only do we want to get to him more, but we know he's not looking to run. I think that Brohm is so good that if you let him sit back and pass, he will take you apart. Getting to him will definitely help us out."
Peters said supporting cast is equally impressive.
"They look strong," he said. "You can't really argue with 73 points (in the first game) and whatever they scored in the second game. You can't argue with that."
Peters is aware that Louisville scored on its first 16 possessions of the season.
""It's impressive, but we've got to do our best to stop it," he said. ""There's nothing you can do about that. We've just got to step up and play our game."