One way to save class time is to require students to do their peer review as homework outside of class. They will appreciate having class time for peer review, but you can either require that they meet to read, comment on, and discuss each other's draft or that they exchange drafts at the end of one class and return drafts and peer review sheets at the beginning of the next class.
If you decide to require out-of-class peer review, you might want students to contact each other and exchange papers through e-mail. If so, consider referring them to our Writing Center reference unit on e-mail. It includes information about e-mail etiquette as well as attaching lengthy files.