Pour 1/2 cup evaporated milk into medium mixer bowl; place beaters into mixture.
Freeze for about 30 minutes or until ice crystals form around edge of bowl.
Heat remaining evaporated milk, water, chunks, 1 teaspoon vanilla extract, 1/2 teaspoon cinnamon and a pinch of cayenne pepper in medium saucepan over low heat, stirring frequently, until melted.
Do not boil.
Set aside.
Remove chilled evaporated milk from freezer.
Beat on high speed for 1 minute or until very frothy.
Add remaining vanilla extract, remaining cinnamon and a pinch of cayenne pepper.
Continue beating for 3 to 4 minutes or until mixture forms soft peaks.
Pour hot chocolate into eight 4-ounce demitasse cups and immediately dollop with foam topping.