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Plan ahead! This recipe requires chill time.
Start the Traeger on Smoke with the lid open until the fire is established, 4 to 5 minutes.
Pour the milk and the cream into a baking pan and smoke on the Traeger for 1 hour.
Meanwhile, in the bowl of a stand mixer, beat the egg yolks until they lighten in color. Gradually add the 1/3 cup sugar and continue to beat until it is completely dissolved.
After the milk and cream have been smoked, add them along with the bourbon, vanilla and nutmeg into the egg mixture and stir to combine. (If you are concerned about eating raw eggs, you can heat up the milk, cream, etc. on the stovetop and temper in the eggs yolks and cook until it thickens.)
Place the egg whites in the bowl of a stand mixer and beat to soft peaks. (When you lift the beaters the whites will make a peak that slightly curls down.)
With the mixer still running gradually add the 1 tablespoon of sugar and beat until stiff peaks form. (At stiff peak stage, the peak of the whites should stand straight up when the beater is lifted.)
Gently fold the egg whites into the cream mixture and then whisk to thoroughly combine.
Chill for a couple hours to let the flavors meld and then serve with a dash of nutmeg on top.