Make an oleo-saccharum: Place the peels of 6 lemons in a glass bowl, add the sugar, muddle, then cover in plastic wrap and let sit somewhere warm for a few hours, or in the refrigerator overnight. When the oleo-saccharum is ready and you're ready to make the punch, juice all the lemons and dissolve the oleo-saccharum into the lemon juice. In a large saucepan, heat the milk until steaming, stirring constantly. Remove from the heat and add the remaining ingredients. Stir vigorously until the milk curdles and the clear liquid separates. Strain through cheesecloth and adjust for strength (with water) or sweetness (with syrup). May be served warm or cold. Grate nutmeg to garnish.
To make the turbinado syrup, dissolve a cup of turbinado sugar in 1.5 cups of hot water.
This is a riff on the classic Mary Rockett's Punch from Dave Wondrich's "Punch".