No you cannot do this without a visa. Once you have two stops in China in your case PEK and PVG, your TOTAL allowance for a transit without visa is 24 hours. From arrival at PEK to departure from PVG.
Change your plans to fly Houston-PVG-HKG and you can stay up to 72 hours without a visa. You may insert another airport between IAH and PVG to make the connection as long as it is not in China and not HKG. For instance: IAH-NRT-PVG-HKG or IAH-ICN-PVG-HKG or IAH-TPE-PVG/SHA-HKG.
On the China Forum (under Destinations) there is a very active thread with a WikiPost about TWOV.