I tried milk after eating half of a homegrown habanero. Actually, I tried everything in the kitchen! Milk, butter, ketchup, baking soda, flour, and all kinds of other whacky ideas. (it's amazing what you'll do when you have a habanero burn

)
The one thing that I found that worked was an ice cube on the tongue. That took away most of the burn, but only as long as the ice cube lasted. I had to suck on ice cubes for about 4 hours. I know that water is supposed to be bad (spreads the capsaicin), but the ice worked well for me.
I know other people that swear by milk. Perhaps it's just a matter of personal chemistry or...
