Preheat your oven to 300°F and place a rack in center of the oven. Line a rimmed baking sheet with parchment paper or a silpat.
Spread cornflakes out in an even layer on the prepared baking sheet. Bake for 15 minutes, until lightly toasted and fragrant. Let cool completely then transfer to a large pitcher.
Whisk together whole milk and heavy cream then pour over cornflakes, stirring until well combined. Let steep for 20 minutes at room temperature.
Set a fine mesh basket strainer over a large bowl. Pour the cereal-milk mixture through the strainer. Gently press the cornflakes to extract as much milk as possible. Just don't press the mush through the mesh into the milk below! Discard cornflakes.
Whisk brown sugar and salt into the infused milk until fully dissolved. Store in the refrigerator for up to 1 week.
To make the cocktail, combine 3 oz. of cereal milk, bourbon, confectioners' sugar and vanilla in a small tumbler, gently whisking to combine. Add ice and stir until well chilled. Finish with a dusting of freshly grated nutmeg.