What she said was in contemporary light of, and with a nod towards what was at the time, a recent incident of a pro ballplayer getting in politically correct hot water, for calling someone a "fag" --- then after said ballplayer went through storms of criticism for it --- he accepting [or declared, anyways, heheh] that he would go to "rehab" for making such a harsh comment [as calling a fag, a fag...]
Coulter's remark was more along the lines of "I would call John Edwards a fag, but I don't want to have to go to rehab..." [for doing so].
I say, I say, it was a joke, son, it was a joke!