Methanol is a different type of alcohol which is metabolized to formate which ends up blinding humans who drink it (but not rats).
Ethanol is metabolized to acetaldehyde by the enzyme alcohol dehydrogenase. The acetaldehyde is then metabolized by aldehyde dehydrogenase to acetic acid which is then excreted in the urine. It's the buildup of acetaldehyde which is one of the things that causes some hangover symptoms. You just have to wait until your liver recovers and makes more enzyme to break down acetaldehyde. Drinking water is also important.
100% ethanol used to be used as an antidote to antifreeze (ethylene glycol) toxicity in animals. Ethylene glycol is metabolized by the same enzymes as ethanol but it's metabolite (oxalic acid) causes renal failure. So you want to stop or reduce the amount of metabolite and make the enzyme work on its preferred substrate ethanol. Nowadays, they have a product that I believe actually inhibits the enzyme so you don't have to make the dog drunk to cure it.
*ends science geek mode*
