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Place the vanilla beans or vanilla bean paste, the egg yolks, and the powdered sugar in a stand mixer. Alternately, use a hand mixer. Either appliance should be fitted with the whisk attachment. Beat the ingredients until creamy, about 5 minutes.
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Add the condensed milk and white rum and beat until combined.
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Transfer the mixture to a double boiler. If you don’t have a double boiler, place a smaller saucepan inside a slightly larger one that is filled with one inch of water. Place the mixture in the smaller pan to heat.
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Beat the mixture over medium to low heat with a whisk attachment until thick and creamy. About 6 – 8 minutes. Be careful not to let the mixture boil.
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Transfer the egg liquor to a bottle, seal, and place in the refrigerator until ready to drink.
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Yield: Makes about 2 cups