Instructions: In a medium saucepan, scald 2 cups milk. Meanwhile, combine egg yolks and sugar in the bowl of an electric mixer fitted with the whisk attachment. Beat at medium-high speed until very thick and pale yellow, 3 to 5 minutes.

Fill a large bowl with ice and water, and set aside. Add half the scalded milk to egg-yolk mixture, and whisk until blended. Stir into remaining milk, and cook over low heat, stirring constantly, until mixture has thickened enough to coat the back of a spoon.

Remove from heat, and immediately stir in 1 cup cream. Pass mixture through a colander or sieve into a medium mixing bowl set in the ice bath until chilled, stirring from time to time. Stir in remaining 1 1/2 cups milk and rum. Transfer to serving bowl or glasses.

Whip remaining cup cream to soft peaks. Serve eggnog with a dollop of whipped cream, topped with a grating of nutmeg.

This recipe yields 8 to 10 servings.

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