Preheat oven to 350℉ / 176℃. Wait until just before adding batter to spray mold or pan with non-stick cooking spray.

In a medium bowl, whisk together flour, baking soda, baking powder, nutmeg, cinnamon and salt until well blended and set aside.

In a large bowl, cream together butter and sugar until light and fluffy, then add eggs, one at a time, beating after each addition.

In a small bowl, or a 2-cup measuring cup, add eggnog, vanilla extract and rum and stir to mix.

Starting with your flour mixture, add about a cup at a time, alternating with eggnog mixture, blending after each addition until just when dry ingredients are mixed in. After last addition, scrape sides of bowl down and beat until well blended, about 30-40 more seconds.

Spray your pan or baking mold with non-stick cooking spray just before filling. Spoon or carefully pour batter into a Bundt cake mold. NOTE: If you are using a silicone mold, place on a baking sheet for stability before filling.

Place cake in center of preheated oven and bake for 60-65 minutes (about 1 hour) or until when center is checked with toothpick, comes out clean or with a few moist crumbs. NOTE: For cupcakes, bake 15-17 minutes.

When cake is done baking, remove from oven and place cake pan on a cooling rack and let cool at least 10 minutes before unmolding. Place unmolded cake on a cooling rack to cool completely before adding glaze.

Add all glaze ingredients to a small bowl and vigorously stir together until smooth. If glaze is too thick, add more eggnog, a teaspoon at a time, until desired consistency is achieved. I like for my glaze to be somewhat thick, with a slow pour.

Spoon or pour glaze evenly over cooled Bundt cake and serve immediately or store, covered, in a cake dish until ready to serve.