Refrigerate egg whites until needed. In a standing mixer fit with the paddle attachment, or with an electric mixer or whisk and a medium bowl, add yolks and sugar. Mix on medium-speed until the mixture is smooth, creamy, and has a pale yellow color.
Add milk, cream, and liquor and continue mixing until evenly combined. Cover and chill for at least one hour.
In a standing mixer fit with the whisk attachment, or with an electric mixer at high speed, whisk egg whites until stiff peaks form. Gently fold into chilled eggnog mixture (some egg whites will float like foam to the top).
To serve, transfer to a pitcher or punch bowl and garnish with freshly grated nutmeg.
Eggs: This recipe contains raw eggs which may be hazardous to certain individuals. According to the USDA, people with health problems, the very young, senior citizens, and pregnant women (the risk is to the unborn child) are particularly vulnerable to Salmonella enteritidis infections.
To pasteurize eggs: allow the eggs to sit on the counter for about 30 minutes to allow them to reach room temperature; which helps ensure the eggs reach the proper internal temperature to kill salmonella which is 135° F. Fill a large saucepan with cold water and gently place the eggs into the water. Place pan on the stove over medium heat. Bring water to 140° F, testing with a digital thermometer to confirm. Once the water reaches 140°F (60°C), remove from heat and allow the eggs to stay in the water for 3½ minutes. Using a clean slotted spoon, remove eggs from the pan and place in cold water. Dry and refrigerate.
Bourbon: Or your preferred brown spirit of choice, or see more booze booster ideas below. Omit for a non-alcoholic eggnog; it's still decadent and delicious!
Nutmeg: I prefer using a whole nutmeg and grating it fresh with a microplane. If you only have ground nutmeg in a jar, that certainly works too.
Yield: This recipe makes 12 1-cup servings. It's so rich, 8 ounces really goes a long way!
Storage: Store extra Eggnog in the refrigerator and enjoy within 7 days.
Switch up your spirits: If bourbon or whiskey aren't your style, consider spiking your Eggnog with rum, vodka, Rumchata, Fireball, or simply go spirit-free for a family-friendly holiday drink recipe.