Place the milk, cream and spices in a large saucepan over low heat. Bring up to the boil then remove from the heat. Add the rum (or bourbon if using), stir until combined then set aside to infuse the spices while you prepare the eggs

In a large bowl beat the egg yolks and sugar until thick and ribbony. Slowly whisk in the strained infused milk. At this point if you are serving the eggnog chilled, refrigerate the mixture until ready to serve

If serving the eggnog warm, then using electric hand held beaters beat the egg whites to stiff peaks. Gently fold through the milk mixture. Serve immediately, dusted with extra nutmeg

If serving the eggnog cold, remove the milk mixture from the fridge. Beat the egg whites until stiff peaks form, then gently fold through the milk mixture. Serve dusted with extra nutmeg