Arduino Changing LED Colours with Mic Input

Hello,
I was wondering if there was anyway that Arduino could have a microphone input and cause it to react by changing the colours on a RGB LED strip.

The microphone would be plugged into a laptop. And the arduino would then read each peak, or any sound picked up by the microphone and make the RGB LED strip change colours for each sound made. The output could be a pattern which repeated it self after say 200 sounds. so after 200 colour changes it would return to the first colour.

Is this possible?

Thanks

The microphone would be plugged into a laptop. And the arduino would then read each peak

How? The Arduino does not have direct access to the hardware on the laptop.

You can connect a microphone directly to an arduino with the hardware shown here:-
http://interface.khm.de/index.php/labor/experimente/arduino-realtime-audio-processing/

Doing this project might just be a little more tricky than you think. Have you tried writing a program that detects a peak from an stream of audio samples?