In a medium saucepan, whisk together the milk, cornstarch and sugar until the cornstarch has been dissolved.

Place the saucepan on the stovetop over medium heat, whisking constantly, until the milk has heated and thickened. Do not allow the milk to boil.

Reduce the heat down to low.

Add the chopped chocolate, ground cinnamon, and cayenne pepper.

Whisk until the chocolate has melted and is fully incorporated into the milk.

Turn off the heat and serve.