Warren, it was called a torpy (short for torpedo) where I did my university education. Same method, similar result. Sub 3 seconds for a can of beer.
Then there were the boat races. Each team had 5-6 participants and there were multiple teams per heat. Each team member had two measures (usually in a plastic cup around 400ml). You'd line up single file, and the first team member would drink his first measure and put the empty vessel upside down on his head, then it was the next team members turn and so on. The most highly difficult position was anchor man (end of the line) where you'd have to have two measures back to back, then the race continued back up the line. First team finished won.
The mechanical engineers were always top runners, but the electronic engineers were never far behind.
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