In a rice cooker, combine 1 1/2 cups of whole milk, 1 cup of water, 2 cups of white rice, 1 cup of sugar, 1 teaspoon of almond extract, and 1/2 teaspoon of vanilla extract. Mix well to ensure all ingredients are evenly distributed.
Set the rice cooker to the “White Rice” setting and cook until the rice cooker has finished cooking.
Once the rice is cooked, transfer it to a large mixing bowl.
Add 1/2 teaspoon of ground Ceylon cinnamon, 1/4 teaspoon ground nutmeg, and 1/2 cup of whole milk to the cooked rice. Mix well until the rice is evenly coated with cinnamon, nutmeg and milk.
Serve warm or chilled, as preferred.