Combine 300 ml milk and 300 ml coconut milk in a saucepan over medium heat. Stir frequently for 5 minutes until steaming but not boiling.
Remove from heat and stir in 3 teaspoons cocoa powder, 3 teaspoons cane sugar, 2 pinches salt, 2 pinches cinnamon, and 2 pinches chili powder until fully combined.
Pour into 2 large cups. Top each with about 1 tablespoon whipped cream and chocolate sprinkles. Serve immediately.