You don't have to dilute that tea. Just apply as is.
When you wet your soil down for the first time, be sure to thoroughly break up the bail of peat (pro-mix) as it really compacts in the bail. Once you have it broken up well on the tarp, you can wet it down at that point a bit or wait until you add your ewc, aeration, and organic inputs. Peat moss is fairly hydrophobic, so you will want to wet it down in small sections, being certain that everything is moist, but not *wet*. You should be able to grab a handfull of it and have it clump together when you squeeze it, but it shouldn't have water dripping out of it when you give it a squeeze. Put it in the container that you will be storing it in at this point, but be sure to leave the tarp out that you mixed it on ..... because there's a good chance you may have to dump it out in a couple days if it's too moist and you start noticing an ammonia scent. If it does start smelling funky, just dump it back out on your tarp and spread it out a bit to get some air for 24 hours ..... then back in to your bin. You will notice that the soil will feel a bit hot in the middle. This is to be expected as the microbes are busy going to work on all the goodies in your soil, and that creates some thermal action. Also be sure that you have some holes drilled in the lid of your container for some oxygen, and don't put the lid on tight. Just set it kind of loosely on top of your container.