Begin by combining 2 cups of eggnog and 1 cup of heavy whipping cream in a large glass measuring cup. Give it a gentle stir until fully blended. Set this aside.

In a medium-sized saucepan, whisk together ¾ cup of granulated sugar, ¼ cup of cornstarch, ¼ teaspoon of salt, and ½ teaspoon of ground nutmeg until there are no lumps.

Add 4 egg yolks to the dry mixture, whisking vigorously until everything is smoothly incorporated.

Gradually pour the reserved eggnog and cream mixture into the saucepan, whisking continuously to combine.

Place the saucepan over medium heat and cook, stirring constantly, for about 8-10 minutes until the mixture thickens.

Once thickened, remove the saucepan from the heat. Stir in 1 teaspoon of rum extract and 2 tablespoons of unsalted butter until fully melted.

Strain the pudding mixture through a fine mesh sieve into a medium bowl to achieve a silky smooth texture.

Cover the bowl with plastic wrap, pressing it directly onto the surface of the pudding to prevent a skin from forming. Place it in the refrigerator to chill for at least 4 hours.

When ready to serve, dish the Homemade Eggnog Pudding into individual ramekins and garnish with whipped cream, a sprinkle of grated nutmeg, and sugared cranberries.