Preheat your oven to 350°. 

In a large bowl mix together your butter and sugar.

Add your eggs and vanilla. Mix, then set aside

In a large bowl, combine your flour, baking powder, cinnamon, and nutmeg. Mix well.

Add to your wet ingredients bowl (butter and sugar) your flour mixture. Mix well until fully incorporated and it becomes a batter. 

Add in half of your eggnog (1/2 cup). Mix well. Add in the remaining amount of your eggnog (1/2 cup). Mix.

Lightly spray your Bundt pan with cooking spray. Add in your cake batter to the Bundt pan.

Bake at 350° for 35 minutes or until a toothpick is inserted and comes out clean.

While your cake is baking, mix all of your ingredients for your eggnog glaze.

Once your cake is done baking, remove it from the oven and allow it to cool for 10 to 15 minutes.

Prepare your cooling rack by placing it on a cookie sheet. This allows the glaze to drop off your cake and the cookies she can catch all of the remaining glaze. You can reuse this glaze, or you can discard it.

On a cooling rack remove your cake by flipping your Bundt pan upside down. Allow it to cool for another 10 to 15 minutes.

Evenly distribute half of the glaze mixture over the Bundt pan. Allow the glaze to drop off for about one minute. For the remaining amount of the glaze evenly over your cake.

Cut into slices and serve. You can also garnish with more nutmeg.