And never try to "put the fire out" with water or beer! That just spreads the heat around your mouth and down your throat! A bartender buddy of mine swears by a glass of milk and a shot of Hershey's Choc Syrup.
If I'm reading this correctly, you are looking for a way to cool it down before you put it in your mouths. I would dilute it by turning it into a double batch, without adding any more spice.
Also, I don't know if this will work, but I know that if you add too much salt to something, you can remove some of it by adding a cut up potato to it (and then removing it when it has absorbed it). Maybe it would work with spices.
I think the chili was already made, and too hot, and bassnet wanted a quick solution to cool it off. Since this was posted last night, I guess we are too late, but it is bound to happen to one of us again in the future.