Although, Peter wouldn't need to do all this because he would win in a straight up fight because he is the superior figher/swordsman but he loves toying with his opponent.
Aladdin's style is usually running away and throwing obstacles at his opponents. He isn't very skilled in offensive combat.
Let's not paint Pan as some Zorro-level swordsman. He's a kid who's fought a bunch of pirates. Granted there is a ton of experience that comes with that, but note that 1). lots, if not all, of the pirates are bumbling idiots, 2). he has no combat training. It's not like Aladdin is going up against the dread pirate Roberts here! Pan is an experienced swordsman, but Aladdin can hold his own against an experienced swordsman until he outsmarts and overpowers him. Don't forget about Pan's pride and boyish-ness!
As far as hiding and throwing his voice in the labyrinth, I don't see that happening in this fight. Because they can both fly at probably equal speed and agility, I don't see either one being able to leave the other's sight for the entire fight. Despite it taking place in a labyrinth, neither has a speed advantage to be able to get away from the other for long. Then, once they're in close combat, Aladdin will find a way to outsmart the overly- prideful, boyish, crybaby that is Peter Pan. And yes, I reiterate "outsmart." Aladdin tricked the most powerful sorcerer in the world, who had the entire kingdom of agrabah fooled into thinking he was a good guy for who knows how long. Peter Pan plays pranks on a man who is deathly afraid of crocodiles and his underlings. There is no comparision of which is more impressive.