In heavy 4-quart saucepan, with wire whisk, beat eggs, sugar, and salt
until blended. Gradually stir in 1 quart milk and cook over low heat,
stirring constantly, until mixture thickens and coats the back of a spoon
well, about 25 minutes (mixture should be about 170º F to 175º F. but do not
boil or it will curdle).
Pour custard into large bowl; stir in vanilla
extract, 1 teaspoon ground nutmeg, and remaining milk. Cover and
refrigerate until well chilled, about 3 hours.
To serve, in small bowl, with mixer at medium speed, beat heavy or
whipping cream until soft peaks form. With wire whisk, gently fold
whipped cream into custard mixture.
Pour eggnog into chilled 5-quart punch bowl; sprinkle with ground nutmeg.
Makes about 16 cups or thirty-two 1/2-cup servings.