This doesn't quite make sense; where did this idea originate from? What exactly do you mean by 'triptophol'? If its 2-(indole-3-yl)-ethanol, then I seriously doubt it could work that way.
Still, indole acetic acid can readily be used as a starting material for producing DMT. By condensing indole-3-yl-acetic acid with dimethylamine, you have 2-(indole-3-yl)-acetic acid dimethyl amide. If you then reduce the amide, you have DMT. This last reduction can be accomplished using a number of different reducing agents.
But this is certainly not a new idea. This has been used in the literature, and, has been discussed here before.