2

As an example,

A is making a speech:

"..yes, you can simulate a hurricane in a computer but does the computer really feel wetness?"

Me:

"Wow, going forward I am going to milk this analogy for all it's worth"

2

One way to express that is:

取れるだけ取っとけ

meaning, loosely, "take as much as can be taken".

In your particular example (milking an analogy), though, the relevant action is USE (i.e., to use something as much as you can). In that case, you could go with:

使い倒そう

with 使い倒す meaning "to use every bit of / get the most out of".

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-1

Off the top of my head, "for all it's worth" would be something like

遠慮【えんりょ】なく

半端【はんぱ】なく

派手【はで】に

A handy way to get "milk it" from a verb is to add まくる to the i-ending, so for example その比喩を遠慮なく使いまくってやる or something similar.

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