I have discovered what I am dealing with; an airborne bacteria that is associated with alcohol called Alcaligenes faecalis. This is a nasty bacteria that produces the white slime that resulted in the coral problems that I am currently experiencing, it's nasty stuff. I've been in contact with Dr. Tim's who have been very helpful in troubleshooting this issue. I was instructed to view three articles from coral magazine that dealt with the exact issue I am dealing with. They were perplexed at this issue as well at first; however, they have developed a way of attacking this aggressive and acidic bacteria. I'm going all in and putting the health of my tank in their hands, seeing that they have seen this bacteria before and have eradicated it from tanks in the past.
I'm going to start with their Refresh product, 2 half doses and then several 1/4 doses of waste away. The treatment should take about 3 weeks to a month. I'll keep this thread updated throughout the treatment.
I hope to have good news to report throughout. Thank you to those who have contributed your thoughtful responses. I'm hopeful that I can eradicate this bacteria, it is definitely having a detrimental effect on the snails and corals in the tank.
If you are interested in reading more about this bacteria, check this link out:
http://www.coralmagazine-us.com/content/mystery-white-reef-slime
Stay tuned.