You can use arpeggios as a way of playing chord tones in your solo or whatever you are working out on your instrument. However, they are not one in the same. Say you are playing over a C major chord, you could play an A minor arpeggio over the top of it and it would sound great. In that A minor, you have an A; which is not in a C chord. So, in that application you are only playing some of the chord tones. You can use both the arpeggios and chord tones in your solos. More importantly, whatever you play; OWN IT!
I have a Chord Tone Soloing tutorial up on Guitar Tricks that uses arpeggios and such at the link below. Good luck! :eek: Chord Tone Soloing Tutorial