So I've done basically the same thing with a few differences: (1) I chose Common Lisp as the language I would implement (2) I used C++ template programming to automatically generate wrappers for C++ library functions (like boost::python and luabind) so that I could expose C++ functions directly to Common Lisp. That allowed me to use the llvm C++ API directly.

The project is called clasp -> github.com/drmeister/clasp Send me a message - we should talk and compare notes.