In a bowl, whisk the egg yolks with the sugar until the mixture whitens and thickens slightly.
In a saucepan, heat the milk and cream over medium heat with the vanilla bean, split and scraped, and the spices, until the mixture is hot but not boiling. Remove from heat.
Pour a ladleful of hot milk over the egg yolks while continuing to whisk to avoid cooking the eggs.
Return the mixture to the saucepan and heat over low heat, stirring constantly with a spatula, until slightly thickened. The cream must not be allowed to boil, let alone boil to a rolling boil.
To obtain a smooth cream without exceeding the temperature. Remove the saucepan from the heat 2 or 3 times, stirring for a few seconds, then return to the heat. This lowers the temperature. The cream is ready when it coats the back of a spoon. Run your fingers over the rubber spatula, leaving a clearly visible line. See photo below.
If you have a thermometer, remove the cream from the heat at 83°C (181°F)
Remove from heat and press the vanilla pod to extract its flavor. You can strain the cream to remove any egg particles.
It is at this step that the rum and bourbon are added
Chill the eggnog in the refrigerator for a few hours or overnight to allow the flavors to develop. However, it is also very good warm or hot (which I like).