The Collaborative International Dictionary of English v.0.48:

Guzzle \Guz"zle\ (g[u^]z"z'l), v. i. [imp. & p. p. Guzzled
   (g[u^]z"z'ld), p. pr. & vb. n. Guzzling (g[u^]z"zl[i^]ng).]
   [OP. gosillier, prob. orig., to pass through the throat; akin
   to F. gosier throat; cf. It. gozzo a bird's crop.]
   To swallow liquor greedily; to drink much or frequently.
   [1913 Webster]

         Those that came to guzzle in his wine cellar. --Milton.
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         Well-seasoned bowls the gossip's spirits raise,
         Who, while she guzzles, chats the doctor's praise.
                                                  --Roscommon.
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         To fat the guzzling hogs with floods of whey. --Gay.
   [1913 Webster]

WordNet (r) 3.0 (2006):

guzzling
    n 1: the drinking of large mouthfuls rapidly [syn: gulping,
         swilling, guzzling]