Well, Alaska's a state, so...it probably won't get a design. But there is a possibility, since Japan has some extra "-tans".
If it does get a design however, I doubt it will look like Palin. For one, I don't know if the Japanese know much/care about Palin, so I don't think she'll come to mind when they think of Alaska. In my mind, I think Alaska would look more like an Aleut or something of the like, since that's what most people think of when they think of an Alaskan.
EDIT: A lot of fans think Alaska looks like the love child of Russia and America (with white hair, blues eyes maybe), but that is mostly fannon