Maybe you have all heard it, but something to eat with fat will slow down rate at which alcohol enters intestine. It is not absorbed appreciably from the stomach.
And the drink of water in between drinks is a smart idea, if for no other reason than it will prevent overdose of alcohol.
Some of the saddest sacks I have ever seen were guys who were proud of being "tanks" who could outdrink everybody else, until their recent memory was gone. I remember one patient at McLean who had been a real bigshot in a very big company, but could not remember which room was his, until he got into one from which nobody threw him out.
Moderation in all things.