Go to Icefang's Lair and complete the Icefang's Oath quest. Accept the A Stolen Egg (50,000 exp.) quest from her. Leave the lair and go back to the top of the valley. From there, travel toward the arch in front of you, fighting terror birds. Just before the first arch, turn left and travel straight until you reach the terror bird nest. Take an egg from the nest to obtain a terror bird mount.
Travel to the Ice Elemental Queen's Lair and defeat her. There are four chests in her lair not including all the gems you will receive from her and all of the Ice Elementals.
Leave the Lair and travel to Unther's cave. Fight Unther and obtain a cloak of meditation.
Leave the snow part of the second outland and work your way to the Cavern of the Fire Elemental King. There is only one chest in this cave but it is worth going out of your way for it. It, along with the chests in the swamplands, has the best loot in the game. Better armor and weapons even than those you can find in Cold Sands Hold.
Leave the cavern and work your way to the Shadowspire Mines. Enter the Mines and work your way to Ashmore, the dragon that stole Icefang's egg. Defeat Ashmore and take back Icefang's egg. Note - do not try to defeat Sheba before defeating Ashmore because the only way out of Sheba's Lair is to teleport somewhere. Thus, if you go to Sheba's Lair before you retrieve Icefang's egg, you will, at a minimum, have to travel from Icefang's Lair back to the Shadowspire Mines to obtain it.
Once you have defeated Ashmore, return back through the Dark Chasm to the ledge across from the entrance. Facing the entrance, go to the furthest point to the left and, using either Helga's ring or a Greenfin Stew, levitate over that point. Watch carefully as you float down until you reach Sheba's Lair and enter. Fight Sheba and defeat her. You will probably obtain a fire cloak. Once you are finished, teleport back to Callaheim.
