I make these often but change it up a bit. I use 1 large can of frozen limeade and using the limeade container, I add 1/2 can triple sec, 3/4 can tequila and 3/4 can of lite beer. I add this all together in a blender with just ice, no water. I find the beer cuts down on the strong tase of the tequila... and also makes them go down WAY too easily!
My sister makes this all the time and they are delicious (and a little dangerous)!