To make the tea: Bring 3 cups of water to a boil and pour over hibiscus flowers. Let the flowers soak in the water for about 20 minutes. Pour the liquid and flowers through a strainer into a large pitcher. Add in the sugar and stir for 2 minutes until sugar is dissolved. Pour in remaining water and taste for sweetness.
To make the cocktail: Pour the Agua de Jamaica, tequila, rum, simple syrup, and lime juice into a chilled cocktail shaker filled with ice.
Shake well. Strain into a chilled glass. Garnish with a lime wedge.