Separate egg whites from yolks. Place egg yolks in a medium mixing bowl and set the egg whites aside.
Add sugar to the egg yolks and whisk vigorously until mixture is pale yellow and fluffy. Set aside.
In a medium saucepan, heat milk, whipping cream, and ½ teaspoon freshly ground nutmeg over medium heat until just before it boils. (Bubbles will form around the top edge of the milk mixture and it will begin to steam.
Remove from heat.
To temper the eggs, spoon one ladle full of the hot milk mixture and whisk it into the egg mixture. Continue adding ladles of the hot milk to the egg mixture until most has been added.
Slowly drizzle the egg mixture back into the saucepan, whisking as you do so.
Heat over medium, stirring constantly, until mixture begins to thicken. DO NOT BOIL. The mixture should not be heated above 160°°F.
Remove from heat and stir in vanilla extract and bourbon.
Cover with plastic wrap and place in the refrigerator to cool for at least 1 hour.
Serve with freshly grated nutmeg.
If desired, whip the egg whites until stiff peaks form and then gently fold into the chilled eggnog. Alternately, use the egg whites for a different purpose.
Notes
½ cup bourbon is considered a light addition of alcohol to this homemade eggnog and will offer a mild taste too. If you’d like a stronger taste of bourbon then feel free to increase the quantity up to 1 ½ cups.
If bourbon isn’t your preferred choice of liquor, consider using other brown liquors such as cognac, brandy, rum, or even a combination!
It’s really important that you don’t overheat the milk mixture or bring it to the boiling point as this will make your eggs scramble and you’ll need to start the recipe again from scratch.
If you want extra foam and froth in your eggnog then you can whip egg whites into stiff peaks and gently fold them into the eggnog.
For a stronger nutmeg flavor, I suggest that you use a zester or spice grinder to grind fresh nutmeg instead of using store-bought ground nutmeg.