Herpes can lead to an increased penile sensitivity.
You also want to ensure there are no other STDs or diseases present - a urinalysis as well as tests for gonorrhea and chlamydia can be considered to evaluate this.
Dermatitis as well as fungal infection can lead to an increased sensitivity. If the tests for infection come out negative, you can consider a referral to a dermatologist for further evaluation.
I would not advise alcohol as a means to help with the symptoms.
Followup with your personal physician is essential.
This answer is not intended as and does not substitute for medical advice - the information presented is for patient education only. Please see your personal physician for further evaluation of your individual case.
Kevin, M.D.
Medical Weblog:
kevinmd_b