1. Bring the water and sugar to a boil. Continue stirring to dissolve all sugar. Allow sugar syrup to cool.
2. Remove several cups of whiskey from bottle. Add 2/3 cup sugar syrup, chili peppers, and cinnamon sticks. For more spicy whiskey, add more red chili peppers. Fill bottle to top with whiskey; screw on lid, and shake.
3. Allow to age at least one week. Enjoy over the rocks.
Tip: You can adjust the sweetness by adding more sugar syrup as needed.