What are the survival limitations of alcohol?
I commented above that it will depend heavily on at what pace you drink your rum, but in short, no, no you cannot.  If you do it quickly, you'll die of alcohol poisoning, and if you drink it slowly, you'll probably die of dehydration[1].

io9 summed up some research a few years ago, the majority of which is largely bunk.  One study (ncbi, free pdf) however, from 1996, claimed to find that:


  These results suggest that alcohol has a negligible diuretic effect
  when consumed in dilute solution after a moderate level of
  hypohydration induced by exercise in the heat. There appears to be no
  difference in recovery from dehydration whether the rehydration
  beverage is alcohol free or contains up to 2% alcohol, but drinks
  containing 4% alcohol tend to delay the recovery process.


So stick to (American) beer.

Sidenote: In Belgium, they divide their (truly excellent) beer into two categories: special, which are stronger and often bottled, and thirst-quenching, which have a lower alcohol content and are often had with lunch.

[1]: Citation: Personal experience and the story of Johnny Tarr.