Coolant temps should never be anywhere near where they would need to be to break down ATF, or you have much bigger problems to contend with!
It's also possible to overcool fluid, and that can be bad too. I'd keep the radiator cooler in line and the external cooler after it to drop the temps a bit more. The radiator cooler is capable of much more efficient heat exchange and has a stabilizing affect since the thermostat is regulating coolant temps. With the two inline you'll be able to keep your ATF in that sweet spot for maximum life.
To eliminate the radiator cooler altogether would require a very large air to liquid external cooler to get the same affect, and without a thermostat there would be times where it is cooling too much. An external cooler in an ideal world should only be a supplement to the main cooler in the radiator.