In this paper, we investigate the notion of the \textit{$λ$-chromatic polynomial} of a graph, which enumerates the number of distinct $L(2,1)$-colorings using colors from a prescribed finite set. We prove that the $λ$-chromatic polynomial of a graph with $n$ vertices is a monic polynomial of degree $n$ and provide a combinatorial interpretation via lattice point enumeration within the framework of inside-out polytopes. Moreover, we compute the $λ$-chromatic polynomial of complete graphs $K_n$ using lattice path enumeration, and we develop a block-gap technique to derive the $λ$-chromatic polynomials for complete bipartite and multipartite graphs. Our approach unifies geometric, combinatorial, and algebraic methods to provide a systematic treatment of $λ$-colorings across various families of graphs.