Arminians typically emphasize the foreknowledge aspect of 1 Peter 1:2, but there is another aspect that's even more supportive of conditional election. Infra-lapsarian Calvinists typically view election as among the unsanctified but the passage teaches us that we are chosen through (or 'by' or 'in') sanctification of the Spirit. Here's the passage:
Elect according to the foreknowledge of God the Father, through sanctification of the Spirit, to obedience and sprinkling of the blood of Jesus Christ: Grace to you, and peace, be multiplied.
The phrase 'through sanctification of the Spirit' modifies 'elect'. Sanctification is the means, not the goal of election (i.e. we are not chosen to become sanctified, rather we are chosen through sanctification). The Holy Spirit produces obedient faith in us and through His work we become the elect.