Drink for/when:
Link opens a chest
Link dies or uses a fairy
Someone flirts with Link
Link plays a song
You need to use a guide or get help (drink two)
Link fails at a mini-game (drink two)
Your companion (i.e. Navi, Midna, The King of Red Lions, ect.) tries to get your attention or talks to Link
Link talks to an animal
...if it's that owl drink four
You read the info on an enemy
Link gets a new item/upgrade an item (drink three)
Link gets eaten by a Like-like
Link gets a mask
Link transforms (yes, turning into a kid or an adult counts)
Out of nowhere, it turns out Ganon was the main antagonist all along (drink five)
Link uses an item to heal
A side character is super weird
The overworld them plays
And finally, when you beat a dungeon, finish your drink
See you next time...