In a small saucepan, bring the water to a boil over high heat. Turn off the heat, add the tea bags, and steep for 8 minutes. Remove and compost the tea bags. Bring the liquid to a simmer, add the sugar, and stir until the sugar dissolves, about 2 minutes. Remove from the heat and let the syrup cool for at least 1 hour before using. (At this point, if you want to make the drinks later, you can refrigerate the syrup for up to 1 week in a sealed container.)
In a tall sealable jar, combine the bourbon, chamomile tea syrup, lime juice, and coconut milk. Seal the jar and refrigerate overnight, about 9 hours. The coconut milk will curdle into small pieces and float to the top. Line a large fine-mesh sieve with cheesecloth or a nut-milk bag and set it over a large mixing bowl. Slowly pour all of the refrigerated mixture through the sieve and let it drip through. (Don’t press or squeeze.) Let the solid coconut milk curds collect in the sieve; they help with the filtering process. Strain the filtered liquid two more times. Allot 1 to 2 hours for the filtering process. The result should be a slightly opaque concoction with a hint of color from the chamomile tea. Will keep in the refrigerator for up to 2 weeks.
To serve, pour 2 to 3 fluid ounces of the milk punch into a glass with a large ice cube. Garnish with an expressed lime peel.
