Can I use coconut milk in this recipe as a substitute for milk?

Most any liquid can be substituted if you have an allergy to one or another. Keep in mind that the fat content (or lack there of), could potentially change the texture/moisture level a bit, but as long as you are open to experimentation, you should be fine! I've successfully used almond milk or even water in a bread recipe before due to dairy allergies and it came out fine. Good luck!