Preheat the oven to 325 degrees F. Spray a 15 cup bundt pan or tube pan with nonstick baking spray or use a pastry brush to coat the pan with cake goop. Set aside.
Whisk together the dry ingredients in a large bowl - cake flour, nutmeg, cardamom, baking powder, and kosher salt. Set aside.
Add room temperature butter, cream cheese, sugar, brown sugar, and vegetable oil to the bowl of a stand mixer fitted with the paddle attachment. Mix together on medium speed for 6-8 minutes, scraping down the sides of the bowl with a rubber spatula half way through. Reduce mixer to low speed.
Begin adding eggs, one at a time, ensuring each egg is fully incorporated prior to adding the next. Scrape down the sides of the bowl as needed.
In a separate bowl, whisk together eggnog and heavy cream. Use a hand mixer to whisk together until stiff peaks form, about 3-5 minutes.
Add half of the dry ingredients to the cake batter and mix together until just combined. Then add in the eggnog mixture and mix until combined and smooth. Add the remainder of the dry ingredients and mix until everything is fully incorporated and smooth.
Pour batter into the prepared pan and bake for 1 hour an 15-25 minutes, until a wooden skewer inserted into the center of the cake comes out with just a few moist crumbs. Let the cake cool in the pan for 15 minutes, then invert onto a wire rack to cool completely.
Make the spiced eggnog glaze - combine melted butter, confectioner's sugar, eggnog, vanilla extract, rum extract, and ground nutmeg in a mixing bowl. Whisk together until combined. Pour on top of the cooled cake and add an additional sprinkle of nutmeg on top.
Notes
Using a Kitchen scale is a game changer! It makes for the most consistent bakes every time. Use the gram measurements next to each ingredient above.
Use room-temperature ingredients! Butter, (especially) cream cheese, and eggs, combine more smoothly when they’re all at room temperature. This prevents curdling and gives you that tight, velvety crumb.
Cream longer than you think you need to. That 6-8 minutes of creaming is doing the heavy lifting. We’re building air into the batter for lift, tenderness, and a higher rise. Don’t rush it; pause halfway to scrape the bowl so no butter sticks to the sides.
Whip the eggnog mixture to stiff peaks. This is your secret moisture plus aeration combo. I do this with my cream cheese pound cake and it's SO good. Stiff peaks add small air bubbles to lighten the batter and add incredible texture. If it’s still soft and loose, keep whisking, the structure matters.
Add the dry ingredients in two batches. Dumping it all in at once can deflate the bowl. Two additions keep the batter smooth and prevent overmixing, which keeps the cake from becoming dense or rubbery.
If you can find fresh nutmeg, I highly recommend using it! The flavor will be so much better!