There's a safer way to think. Let $\epsilon > 0$, and suppose that $0 < |x - 3| < \delta$. let's find $\delta$. Notice: $$|x| - 3 < |x-3| < \delta \implies |x| < \delta + 3.$$
Once we find $\delta$, any other value $\delta'$ less than this $\delta$ will also work, so we impose that $\delta \leq 1$. If the value of $\delta$ we find is greater than $1$, if we choose anything less than $1$, it will also work. We have: $$|x^3 - 27| = |(x - 3)(x^2+3x+9)| = |x^2+3x+9||x-3|.$$
We use the triangle inequality, and the hypothesis $|x-3| < \delta $ to get: $$|x^3-27| \leq (x^2+3|x|+9)\delta.$$
Now, we use that $|x| < 3+\delta < 3+1 = 4$. Hence: $$|x^3-27| < (16+12+9)\delta = 37\delta$$
I want $37\delta < \epsilon$, so $\delta < \epsilon/37$.
The crux here is that this argument only holds if $\delta < 1$ too. So, our final answer is that: given $\epsilon > 0$, if $\delta = \min\{1, \epsilon/37\}$, then: $$0<|x-3|<\delta \implies |x^3 - 27| < \epsilon.$$
You might find my answer here helpful. I give the general strategy for dealing with epsilon-delta proofs for limits with polynomials.