In a small mixer bowl beat egg yolks till blended. Gradually add 1/4 cup sugar, beating at high speed till thick and lemon colored. Stir in milk, stir in rum, bourbon, vanilla, and salt. Chill thoroughly. Whip cream. Wash beaters well. In a large mixer bowl beat egg whites till soft peaks form. Gradually add remaining 1/4 cup sugar, beating to stiff peaks. Fold yolk mixture and whipped cream into egg whites. Serve immediately. Sprinkle nutmeg over each serving. Serve in a punch bowl or another big bowl. NOTE: For a nonalcoholic eggnog, prepare Eggnog as above, except omit the bourbon and rum and increase the milk to 3 cups.