It was through the study of the catholic and Anglican understandings of what it means to "eat his flesh and drink his blood" that I arrived at my present conclusion; and I believe that God reveals himself to us through our simple acts of obedience. Let me suggest a parallel passage in John's first epistle that helps us understand Jesus command to eat his flesh and drink his blood.
"Do not be surprised, my brothers, if the world hates you. We know that we have passed from death to life, because we love our brothers. Anyone who does not love remains in death. Anyone who hates his brother is a murderer, and you know that no murderer has eternal life in him.
"This is how we know what love is: Jesus Christ laid down his life for us. And we ought to lay down our lives for our brothers. If anyone has material possessions and sees his brother in need but has no pity on him, how can the love of God be in him? Dear children, let us not love with words or tongue but with actions and in truth." (1 John 3: 13-18)
That is; unless we love our brother, we have no life in us; if we love our brother, it will cost us.
Again, our lives are to be the living breathing body of Christ. We eat his flesh; we take him within us, as we become more like him through acts of obedience. John says that we know that we have the life of Christ within us because of our love for our brother.
The Blood of Christ is the cup of his suffering, which he prays about in the garden. We drink this cup when our obedience calls us to do things which will cost us. We drink this cup when we are ridiculed for our foolishness, we drink this cup when we suffer for following Christ.
This is how we understand Jesus Words in Luke 22:
here speaking about the bread: "For I tell you, I will not eat it again until it finds fulfillment in the kingdom of God."
and speaking about the wine: "For I tell you I will not drink again of the fruit of the vine until the kingdom of God comes."
We are to be the fulfillment of this, the embodiment of Christ on earth and the advancers of the kingdom of God. We must be transformed from thinking like the world into the likeness of Christ. We should not expect to be liked for this, but rather we should not be surprised if the world hates us.
We must literally take Christ within us.
We must literally share in His sufferings.
Unless we eat his flesh and drink his blood, we have no life in us; unless we live the life of Christ, transformed by love, and unless we suffer for it, sharing in his suffering, we have no life.