Combine bourbon, half-and-half, and vanilla.
Stir in sugar until dissolved.
Cover; refrigerate several hours, or until very well chilled.
Just before serving, whip cream until stiff.
Pour bourbon mixture into punch bowl or glass serving bowl.
Set bowl in a bowl of crushed ice, if desired.
Spoon whipped cream on punch.
Sprinkle with freshly grated nutmeg.
Note: Half-and-half is half milk and half cream.Makes 8 or 9 punch-cup servings.