In a large saucepan or pot, combine coconut or almond milk, heavy whipping cream, cinnamon, nutmeg, and 1/4 cup Swerve Confectioners. Bring mixture to a simmer, then simmer for 8-10 minutes, stirring occasionally. Remove from heat.
In a medium bowl, whisk egg yolks and remaining Swerve Confectioners until light and fluffy.
Ladle the milk mixture slowly into the egg mixture, whisking the entire time, until everything is fully combined.
Add the mixture back to your large saucepan or pot, cover, and cook on medium heat for 8-10 minutes or until the mixture reaches 160 F and coats the back of a wooden spoon. (Note: It is critical that the mixture reach 160 F for safety purposes.)
Remove from heat and stir in vanilla and bourbon (optional), then cover and refrigerate until cool.
Once your eggnog is cool, stir it again before serving.
If desired, top with keto whipped cream and cinnamon. Serve with a cinnamon stick.
Notes
If alcohol or bourbon specifically isn't your thing, feel free to skip it.