Immediately remove the bedspread from the bed to keep the wine from soaking through to the sheets and mattress. Lay the bedspread on a tile or linoleum floor.
Blot the wine with a dry paper towel. Don't scrub or apply too much pressure, because this will only drive the stain deeper into the fabric. You just want to remove any excess wine that hasn't yet soaked in.
Dip a couple of paper towels in the milk and use them to dab the stain. This should take out much of the wine. Pour a small amount of milk directly on the remainder of the stain. Let it sit for a few minutes, then rinse.
Pour the vinegar and water into a plugged sink or a bucket and dip the stained fabric into it. Let it soak for a few minutes, then machine wash.