In a Boston shaker, combine Arrogante Reposado tequila, cranberry juice and freshly squeezed lime juice. Stir with a bar spoon to combine and add a handful of ice cubes. Shake vigorously for 15 to 20 seconds. Strain the cocktail into a collins glass filled with ice chunks. Drizzle Cointreau liqueur on the top.
Cut a round "coin" of orange peel, at least an inch in diameter. Light a match; hold the lit match several inches above the cocktail. Hold the orange peel colored side down, about two inches above the lit match. Twist and squeeze the peel over the lit match to press out the oils. The idea is that you're squeezing the citrus oil that fall into a cocktail through a flame, which lightly caramelizes the oil and subtly enhances its flavor.
Rub the peel around the rim of the glass. Drop the orange "coin" into the drink or discard.