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Step 1
Divide the cranberries among the sections of a standard (12-cube) ice cube tray. Fill the tray sections with water and freeze until frozen, at least 4 hours and up to overnight.
Step 2
Add 1/2 cup of the tequila, 1/3 cup of the lime juice, 3 tablespoons of the orange liqueur, 1 1/2 tablespoons of the coconut milk and 1 tablespoon of the superfine sugar to a large cocktail shaker. Fill with plain ice cubes and shake vigorously until well mixed and very cold.
Step 3
Pour the corn syrup onto a small shallow plate. Mix 1 tablespoon of the superfine sugar with the shredded coconut and 1 tablespoon salt on another shallow plate. Dip the rim of a margarita (or other wide-mouth) glass in the corn syrup, then dip the rim in the sugar mixture until well coated. Repeat with 3 more glasses. Pour the shaken margarita mixture into 2 of the prepared glasses. Add 3 of the cranberry ice cubes to each and garnish with a single lime slice.
Step 4
Repeat with the remaining cocktail ingredients, dividing it between the remaining 2 prepared glasses and adding 3 cranberry ice cubes and a lime slice to each.