'Tis the season for eggnog

Chef Bobby Flay whips up his own flavorful take on the Christmas specialty!

Puerto Rican Eggnog (Coquito)
Serves: 8

1 cup whole milk
1 cup unsweetened coconut milk
3/4 cup granulated sugar, divided
1/2 vanilla bean, split and seeds scraped
2 cinnamon sticks
1/8 teaspoon ground nutmeg
1/4 teaspoon ground cinnamon, plus more for garnish
4 large eggs, separated
8 oz golden rum
1 cup cold heavy cream

Combine the milk, coconut milk, 1/2 cup of the sugar, vanilla bean and seeds, cinnamon sticks, nutmeg and ground cinnamon in a medium saucepan and bring to a boil over high heat. Remove from the heat and let the mixture steep for at least 20 minutes. Remove the cinnamon sticks and vanilla bean from the mixture and discard. Return the mixture to the stove over low heat.

Prepare an ice bath in a large bowl. Whisk the egg yolks in a medium bowl until pale yellow. Slowly whisk the warm milk into the yolks then return the mixture to the saucepan. Cook the mixture over medium heat, stirring constantly with a wooden spoon until is slightly thick and coats the back of a wooden spoon, stir in 1/2 cup of the rum then remove from the heat. Transfer the mixture to a medium bowl and nestle the bowl in the ice bath. Whisk until the mixture is chilled, about 5 minutes then stir in the remaining rum. (this mixture can be covered tightly and kept in the refrigerator for 1 day).

Place the cream in a medium bowl and whip until soft peaks form. Place in the refrigerator while you whip the egg whites.

Fill a medium saucepan 1/4 of the way full with water and place over medium heat until it begins to simmer. Place the egg whites and the remaining 1/4 cup of sugar in medium bowl (that will fit on top of the saucepan) and place over the simmering water. Gently whisk the mixture until warm to the touch and the sugar has dissolved. Remove the bowl from the saucepan and whip until soft peaks form.

Transfer the egg yolk mixture to a large decorative bowl and gently whisk in the egg whites and then the heavy cream. Sprinkle with more cinnamon. Serve the eggnog immediately.

A web-only exclusive from CBS News Sunday Morning producer Judith Hole:

Uncle Homer Hole's North Carolina Christmas Eggnog

Please note: This recipe uses raw eggs

12 eggs, separated
1½ quarts 86 proof Kentucky bourbon
½ pint light Jamaica rum
1½ cups sugar
1 quart heavy cream or whipping cream
1½ quarts milk
Freshly ground nutmeg

At least 72 hours ahead, or better yet 2-4 weeks ahead, beat egg yolks thoroughly. Mix with bourbon, rum, sugar and 2 tsp freshly grated nutmeg. Put in a cool place and let sit up to 24 hours before use.

At that point, whip egg whites until stiff. In a separate bowl, whip heavy cream until stiff. Using whisk or rubber spatula, fold egg whites into whipped cream.

Add egg yolk/bourbon mixture. When blended, add milk.

Keep in a cool place until ready to serve.

When serving, stir to blend & grate fresh nutmeg on top of each cup.