I think it would be difficult for retailers to instigate the process as you have described.
Say I take your exclusive code and put it on my website. My link to the merchant would be the same as yours except I would have a different affiliate ID.
To achieve what you want, the retailer would have to cross check the parameters passed at checkout (ex code = affiliate) to then allow the discount. At this point it wouldn't be in the retailers interest to turn down the sale by disallowing it because it came from my site.
So, there are 2 issues I can see - 1) building the functionality into the checkout process, and more importantly, 2) securing the sale for the retailer.
Of course they could analyse their stats after the event and disallow any commissions earned for that code via my site, but this is of no use to you.
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