AN INSTRUCTOR PILOT (IP) AND STUDENT WERE ON A DUAL INSTRUCTIONAL FLIGHT IN CESSNA 152, N24236. AT 1722:05, N24236 WAS CLEARED FOR TAKEOFF ON RUNWAY 27L AND WAS INSTRUCTED TO FLY RIGHT TRAFFIC FOR RUNWAY 27R. AT 1722:11, ANOTHER CESSNA 152, N4745B, WAS CLEARED FOR A TOUCH-AND-GO ON RUNWAY 27R. THE IP (OF N24236) STATED THAT AFTER REACHING AN APPROPRIATE ALTITUDE AND DISTANCE FROM THE DEPARTURE END OF RUNWAY 27L, A RIGHT TURN WAS MADE, NORTHBOUND. AT 1723:34, LOCAL CONTROL ISSUED AN ADVISORY FOR N24236 TO FLY WESTBOUND (RUNWAY HEADING), THEN PROVIDE A WARNING OF THE OTHER CESSNA IN THEIR VICINITY. AT ABOUT THAT TIME, THE STUDENT SAW N4745B CONVERGING FROM BELOW AND THE IP TOOK EVASIVE ACTION. HOWEVER, THE PROPELLER ON N4745B STRUCK THE RIGHT MAIN TIRE ON N24236. BOTH AIRCRAFT LANDED SAFELY WITH ONLY MINOR DAMAGE. THE INCIDENT OCCURRED DURING A PERIOD OF PEAK TRAFFIC.