That's what I am doing on my current South America tour. So far so good. I'm using medical alchohol bought from farmacias. It comes in a plastic bottle, and they leak easily.

I realized there is room in the rear triangle of my LHT for a small water bottle, so I installed a fourth cage with pipe clamps. I'm really happy with how it's going. It's a spot I would never reach to for water, so accidentally drinking it is not an issue.