Well, for some of it. I wouldn't replace all of the water with liquor though. What are you trying to make? Baking will burn off a certain amount of the alcohol. Often you are better off infusing the cake with a glaze containing the liquor as you will get more taste and more effect from the alcohol. For example, here is the old Bacardi Rum cake Recipe
ingredients:
1 cup chopped pecans or walnuts
1 box of yellow cake mix (18 1/2 ounces approximately)
1, 4 serving size box of vanilla instant pudding
4 large eggs
1/2 cup milk
1/2 cup canola or vegetable or olive oil
1/2 cup rum
1/2 cup raisins or dried currants
Pre-heat oven to 325. Grease and flour either a 10 inch tube pan or a 12 cup bundt pan. Sprinkle nuts on bottom of pan. Put cake mix and pudding mix in bowl and stir together. Make a well in the centre and add other ingredients. Beat on high for 2 minutes. Pour over nuts in prepared cake pan. Bake 50-60 minutes or until toothpick inserted in cake comes out wit a moist crumb but not wet batter. Cool in pan 20 minutes before inverting to serving plate.
Glaze:
1/2 cup butter
1/4 cup water
1 cup sugar
1/2 cup rum
Melt butter. Add sugar, water and rum and bring to a boil. Poke holes in cake using a toothpick and brush on glaze. Repeat until glaze is used up.
Perhaps this recipe will give you a starting point.
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