1. In a saucepan, heat milk and water.

2. Add rice, bring to a boil, lower heat to simmer; stir mixture every 10 minutes. Cook uncovered until rice is tender, about 30 minutes.

3. In a large bowl, mix eggs, 3/4 cup evaporated milk, vanilla, and sugar. Set aside.

4. Add the remaining 1/4 cup of evaporated milk to the rice mixture.

5. Spoon 1 cup of rice mixture into the egg mixture and stir. Pour egg-rice mixture into the remaining rice.

6. Heat pudding until it boils, stirring continuously. Remove from heat, and sprinkle with cinnamon.