In a large saucepan, combine water and milk over medium heat, stirring occasionally. Add the tea bags (remove the strings and tags). Reduce the heat and simmer, covered, for 5 minutes. Remove the saucepan from the heat and continue steeping, covered, for another 5 minutes. Squeeze the excess liquid from the tea bags before removing and discarding. Stir in the honey until combined. Divide into four mugs, sprinkle with cinnamon and serve!