Question:

After eating an especially hot chili what might be an effective thing to eat or drink to reduce the burning sensation?

Capsaicinoids are not soluble in water, but are very soluble in fats, oils and alcohol so drinking water or beer (with relatively low alcohol content) will be helpful. The water will wash some of the capsaicin down the throat. The alcohol in beer will dissolve some of the capsaicin and the water in the beer will wash some down the throat.

However, milk contains casein, a lipophilic (fat-loving) substance that surrounds and washes away the capsaicin molecules in much the same way that soap washes away grease. This therefore would be more effective than the water or beer even though beer is a traditional "cure" for the burning sensation.