Dissolve yeast into warm eggnog. While yeast is dissolving combine white sugar, butter, salt, and eggs into a large bowl. Mix in two cups of flour, and then mix in yeast + egg nog mixture. Mix in remaining flour until dough is easy to handle. The dough should be elastic but not sticky. Sprinkle flour over a large surface and knead for 5-10 minutes. Place in a large well-greased bowl (I sprayed mine with Pam) and cover with two clean dish towels without touching the dough. Place in a dry area for an hour to double in size.  

Preheat oven to 350 degrees F.

Punch down the dough and roll out into a large 15×9 rectangle on a floured surface. Spread evenly with softened butter, brown sugar, cinnamon and nutmeg. Very gently roll dough together. Cut slices about 1 1/2 inches thick and arrange close together in a greased casserole dish. Bake for 25-30 minutes or until lightly golden.

For icing:
In a large bowl fitted with a hand or standing mixer add in room temp butter, cream cheese, and vanilla extract. Beat for 2-3 minutes. Add in 1 cup of powdered sugar at a time and 1 tablespoon of eggnog after every sugar addition. Add in cinnamon and nutmeg last to your taste. Smother onto warm cinnamon rolls!