trace route may require kernel level access. i think we dont have such deep level permission in android !
still but there is a hope , i found a command prompt in Android Emulator , where i can write commands like dir (list directory) etc..
you try out something ther
Best and a little less time consuming way to find out feasibility of such an application would be to search for any existing application in the said domain and study it. If I remember correctly there was an application named "Server somthing" that had traceroute built in.