Preheat oven to 300°. Heat a teakettle to boiling. Heat milk, cream, and honey in a medium saucepan until simmering, stirring. Whisk eggs and egg yolks in a large bowl until well blended. Gradually whisk in hot cream. Strain into a glass measuring cup.
Set 8 ramekins (4 oz. size) in a large roasting pan. Pour cream mixture into ramekins to about 1/2 in. from top. Set pan on oven rack and carefully pour boiling water into pan so it comes halfway up the ramekins. Cover pan with foil, turning up 2 corners so steam can escape.
Bake until custards jiggle only slightly when pan is gently shaken, 45 to 50 minutes. With a spatula, carefully transfer custards to a cooling rack. Let cool, then chill, covered, until cold, at least 2 hours.
Cut peel from oranges, then cut segments free from inner membranes. Pat dry and set some on each custard. Garnish each with a little lime zest and a piece of lemon, if you like.
Make ahead: Through step 3 up to 2 days, chilled airtight.