I posted a question about making pepper vodka a while back (see link below), and got some helpful replies. My chipotle vodka won't really be ready for a few more weeks, but meanwhile, I made a peppercorn vodka that worked out quite well, and is remarkably similar (for a first try) to Pertsovka.
I used ~16 oz. of very basic vodka; a small handful of pink peppercorns; about the same amount of white peppercorns; and a smaller amount (~1/2 tsp) of black peppercorns. After 5 days, I strained it and made martinis. It was about the color of chenin blanc--paler than the rich amber of Pertsovka. The mix of peppercorns gave it a surprisingly complex flavor, not harsh but with a nice bite.
Doing it again, I'd reduce the number of black peppercorns; I also want to add some green peppercorns, but we didn't have those on hand at the time. I might let it stew longer--I imagine the flavors would mellow and blend a little more. Definitely worth a try, though, and remarkably easy.