Back in high school doing A-Levels this used to be a regular occurance for me and a few mates, albeit not full 70cl bottles each. We'd normally split a 70cl of Jack Daniels, Southern Comfort or whatever the hell else we could get our hands on, pour the halves into a large glass each and down the lot.
Took about 3 solid minutes of standing over the sink trying to hold it down while getting rid of the MASSIVE amount of saliva that floods your mouth. Once that was done and your stomach settled, you had about 35 minutes or so before the alcohol hit you like a freight train. Was tons of fun and an awesome way to party.
*not condoning it in any way.