The reaction is a form of the \textit{chloroform reaction}, also known as the \textit{carbylamine reaction}, where ethylamine reacts with chloroform (\(\text{CHCl}_3\)) in the presence of ethanolic KOH to produce an isocyanide (foul-smelling gas). The equation is:
\[
\text{RNH}_2 + \text{CHCl}_3 + \text{KOH} \rightarrow \text{RNC} + \text{KCl} + \text{H}_2\text{O}
\]
where R is the ethyl group in this case (\(\text{C}_2\text{H}_5\)).