Cut the kernels off the corn cobs. You can reserve 1/4 cup of kernels for later garnish (boil them in a little water until soft).
Place the remaining corn kernels in a blender and add 1 cup of water (or milk). Blend until as smooth as possible.
Strain the mixture through a fine mesh sieve or cheesecloth into a pot. Press the solids firmly to extract all the corn liquid. Discard the solids (or use them for corn fritters/fritas).
To the pot with the corn liquid, add the remaining 3 cups of milk, the whole cinnamon stick, sugar, and a pinch of salt.
Cook over medium heat, stirring constantly with a wooden spoon to prevent the mixture from sticking to the bottom and forming lumps. This is crucial!
Bring the mixture to a gentle boil. If you stir constantly, the Atol will naturally begin to thicken due to the starch in the corn. Cook for 15-25 minutes until it reaches the desired thick, creamy consistency.
If the Atol is too thin, you can thicken it with 1 Tbsp of cornstarch dissolved in 2 Tbsp of cold water. Add it and cook for one more minute, stirring constantly.
Remove the cinnamon stick.
Serve hot, in cups or mugs. Garnish with ground cinnamon and optionally the reserved cooked corn kernels.