In a medium saucepan set over medium, boil the water.
Add the allspice, cloves, star anise, cinnamon sticks and 1 teaspoon ground cinnamon.
Steep the tea for 8 to 10 minutes, strain it and cool it.
In a high powered blender, add cream of coconut, sweetened condensed milk, coconut milk, evaporated milk, and vanilla.
Pulse until smooth and fully combined. If using a smaller blender, blend in batches.
Pour the milk mixture into a large bowl.
Add ⅓ cup of the tea mixture to the milk mixture.
Whisk in the rum, ground cinnamon and nutmeg.
Pour the coquito into 2 (750ml) bottles, cover and chill for at least 4 hours or overnight.
Shake before serving ice cold.
