In a small bowl, beat the egg yolks and 1/2 cup of the sugar until thickened.
In a larger bowl, mix the egg whites with 1/4 cup of sugar and beat on high until peaks form, about 5 minutes.
In another bowl, beat the whipping cream on high until peaks form, about 5 minutes.
Gently stir in the whipped cream with the yolk mixture. Fold in the egg white mixture.
Gently stir in the milk, bourbon, vanilla, cinnamon, 2/3 of the freshly ground nutmeg, and Meadowlark Mocha Token Bitters.
Pour into a serving bowl or punch bowl and chill in the refrigerator until ready to serve. To serve, top each glass with a small pinch of the remaining ground nutmeg.