Heat oven to 350 degrees F. Fill a 12-cup muffin tin with liners.
In a small bowl, mix together rum, eggnog, vegetable oil, vinegar and vanilla
In a large bowl, mix together nutmeg, flour, sugar, baking soda, baking powder
and salt. Pour in rum mixture and whisk until just combined.
Divide evenly into
muffin tins, using a 1/4 cup measuring cup.
Bake for 18-20 minutes, until a tester comes out clean and the cakes spring back
when lightly pressed.
Cool in the pan for 3-5 minutes, then turn out onto a wire
rack to cool completely before frosting.
Eggnog Frosting: Cream together butter, eggnog, rum, nutmeg and 2 cups of confectioners'
sugar, adding in more sugar if needed to make frosting stiff, but spreadable. Spread
on cupcakes and garnish with a sprinkle of nutmeg and cinnamon.