Heat broth in a large saucepan with the cinnamon stick to boiling, reduce and simmer for 5 minutes.
Add red wine and boiling water and simmer for another 5 minutes. Remove cinnamon stick.
Lightly beat egg yolks in a small bowl.
In a separate bowl beat the egg whites until stiff which will be added as a garnish.
Temper the yolks by adding a little broth to the eggs yolks to warm, mixing well, then pour the yolks slowly into broth, stirring constantly. Season with salt, pepper and cayenne.
Ladle immediately into warmed bouillon cups. Float a dollop of beaten egg white on each serving, and sprinkle with chopped chives.