It doesn't look like peace talks were on the table as both Rāma and Sugrīva had already made up their minds that Vāli should be eliminated.
"Oh, Raghava, my brother denounced me, he even made me an enemy of
his, such as I am I am living in these forests with scare and fear,
and with ...
As per Five Holy Virgins by Pradip Bhattacharya, Tara in Panchkanya is Vali's wife:
Tara,9 wife of Vali and daughter of
the vanara physician Sushena, is the
next kanya we meet in the Ramayana.
The end note further clarifies it:
9 Not to be confused with Tara, wife of
Brihaspati, preceptor of the gods who
elopes with his disciple Chandra, or with