Place eggs, sugar and milk in a saucepan over medium-low heat. Whisk to combine. Cook, stirring constantly, for 6 to 8 minutes or until mixture thickens and coats the back of a wooden spoon. Remove from heat. Stir in rum, brandy and half the cream.
Using an electric mixer, beat remaining cream in a bowl until soft peaks form. Pour egg mixture into 4 heatproof glasses. Top with cream. Sprinkle with nutmeg. Serve.