Combine the water, cinnamon, cloves and ginger in a small saucepan. Bring to a simmer. Reduce heat to low, cover and simmer for 5 minutes. Add the milk or soy milk and heat until steaming but not boiling. Remove from heat.
Add the tea bags, cover and let steep for 3 to 4 minutes. Pour the chai into 2 mugs and sweeten with honey, if desired.