Assuming you have jailbroken the device you should be able to use Launchpad to issue the appropriate command when a hot-key sequence you define is entered. I don't know the command offhand, but I am sure someone else here does.
The next question, however, is will your power button wake it up once you put it to sleep? If not, you will be left with a case where you may need to SSH into the unit to wake it up. As it is asleep the keyboard will be ignored, so this might be your only way to wake it.
Dave
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