1 can evaporated skimmed milk - (12 oz)
1 1/3 cups fat-free egg substitute
3 Tbs sugar
3 cups skim milk
2 Tbs vanilla extract
1/2 tsp cinnamon
1/4 tsp grated nutmeg
Freshly-grated nutmeg, (optional)


In a large nonstick saucepan over low heat, combine the evaporated milk, egg substitute and sugar; cook, stirring constantly, until bubbles just begin to form around the edges and the mixture thickens, 12 to 15 minutes.
Add the skim milk, vanilla, cinnamon and nutmeg; increase the heat to medium and cook, whisking constantly, until just heated through, about 5 minutes. Serve at once, sprinkled with the freshly grated nutmeg (if using).