The paper provides a new perspective on peak- and average-constrained Gaussian channels. Such channels model optical wireless communication (OWC) systems which employ intensity-modulation with direct detection (IM/DD). First, the paper proposes a new, capacity-preserving vector binary channel (VBC) model, consisting of dependent binary noisy bit-pipes. Then, to simplify coding over this VBC, the paper proposes coding schemes with varying levels of complexity, building on the capacity of binary-symmetric channels (BSC) and channels with state. The achievable rates are compared to capacity and capacity bounds, showing that coding for the BSC with state over the VBC achieves rates close to capacity at moderate to high signal-to-noise ratio (SNR), whereas simpler schemes achieve lower rates at lower complexity. The presented coding schemes are realizable using capacity-achieving codes for binary-input channels, such as polar codes. Numerical results are provided to validate the theoretical results and demonstrate the applicability of the proposed schemes.