Prepare two glasses by rubbing a wedge of lime around the rim.

On a plate, combine the sweetener and red food dye. Invert the glass and dip it into the sweetener. Repeat with the second glass.

To a blender, add the coconut milk, ice, tequila, lime juice, and orange extract, and blend until smooth.

Taste for sweetness - you might like to add some low carb simple syrup if you prefer it sweeter, but remember the sweetened rim of the glasses will help with that.

Pour the cocktail into the prepared glasses and garnish with a lime wedge.

Serve immediately.