I glossed that part over but there was no Elixir nearby for them to get. They weren't even 1st level; just dumb kids with too much time on their hands who had no idea what they were doing. They had an idea and acted on it (stupidly) with no thought to plausibility or consequence. Chiranjeevi wasn't even 1st level until after his dreamtime quest (at least that's how I pictured it).
How about these changes: Dasgupta settled in Quantium, this time having actual exotic goods to sell. There was Elixir to be found but it belonged Dresmen Bengada, a powerful priest of Achaekek, patron god of the Red Mantis. They didn't know who he was and enacted their idiotic "plan" with the same disastrous results. Chiranjeevi fled north to Katapesh and met the shaman near the ruins of Kelmarane. After the dream quest, he journeyed Katapesh for awhile, seeking whatever mysteries he could, until the wanted posters started showing up, seemingly overnight. He tried to track down his old friends but was forced to flee back to Nex and resettled in Quantium. No one has heard of Dresmen Bengada for a long time; he supposedly set sail for the Shackles years ago. He's estranged from his father and there are no wanted posters in Quantium though he stears clear of any temple areas (just in case); particularly those of Pharasma and Calistria. The rest of the details could remain as is, I think.