When it comes to holiday-time calories, nothing adds to your bottom line as much as this rich punch. But only a scrooge would give up eggnog altogether, so check out our slimmed-down nog at one-fourth the saturated fat and half the cholesterol. We replaced whole milk with low-fat (and skipped the heavy cream), but kept the silky texture and decadent flavor by simmering the milk and sugar with cornstarch and by using more egg whites and fewer yolks.
Ingredients haunting in connecticut a divx download

3 large eggs
3 large egg whites
5 1/2 cup(s) low-fat milk
1/2 cup(s) sugar
2 tablespoon(s) cornstarch
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Salt
2 tablespoon(s) vanilla
1/2 teaspoon(s) (plus additional for sprinkling) ground nutmeg
1/3 cup(s) dark Jamaican rum (optional)
Directions
In bowl, with whisk, beat eggs and egg whites until blended; set aside. In heavy 4-quart saucepan, with heat-safe spatula, mix 4 cups milk with sugar, cornstarch, and 1/4 teaspoon salt. Cook on medium-high until mixture boils and thickens slightly, stirring constantly. Boil 1 minute. Remove saucepan from heat.
Gradually whisk 1/2 cup simmering milk mixture into eggs; pour egg mixture back into milk in saucepan, whisking constantly, to make custard.
Pour custard into large bowl; stir in vanilla, nutmeg, rum, if using, and remaining 1 1/2 cups milk. Cover and refrigerate until well chilled, at least 6 hours or up to 2 days. Sprinkle eggnog with nutmeg to serve. Makes about 6 1/2 cups.

Yummy stuff. I whipped up a couple of batches with 4 eggs/1 egg white and half the sugar. Really great low-cal eggnog.