Add the milk, cream, chocolate, and cocoa powder to a microwave-safe bowl or jug. Heat in 30 second intervals, stirring after each one, until melted and smooth, and the mixture is hot.
Whisk in the pumpkin, vanilla, and spices until fully combined. Warm up again if necessary.
Pour into mugs or heat-proof glasses, top with whipped cream, and serve immediately.
Video
Notes
To store this hot chocolate, keep refrigerated in a sealed container for up to 4 days. Reheat when ready to serve.