Whisk the egg yolks and sugar together in a medium bowl until light and creamy.
Combine cream, milk, nutmeg and salt in a saucepan over medium-high heat.
Stir often until mixture reaches a slight simmer.
Add a large spoonful of the hot milk to the egg mixture, whisking vigorously.
Repeat, adding a large spoonful at a time, to temper the eggs.
When most of the hot milk has been added to the eggs, pour the mixture back into the saucepan on the stove.
Whisk constantly for a minute or so, until the mixture is just slightly thickened (or until it reaches about 160 degrees F on a thermometer). It will thicken more as it cools.
Remove from heat and stir in the vanilla extract.
Through a fine mesh strainer, pour eggnog into a pitcher and cover with plastic wrap.
Refrigerate until chilled. It will thicken as it cools.
For a thinner, completely smooth consistency, add the entire mixture to a blender with 2 tablespoons of milk and blend until smooth.
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