See I don't know the answer to your question exactly but one thing you can surely try:
Just zip up the package into a .tar.gz or a .zip and pass the entire tarball or archive in a -file option to your hadoop command. I've done this in the past with Perl but not in case of Python.
You can also use Python's zipimport at http://docs.python.org/library/zipimport.html, which allows you to import modules directly from a zip.
Hope this will answer your question to some extent.