Stir together flour, sugar, baking powder, salt, cinnamon and nutmeg. Lay to one side and preheat oven to 425 F.
In a bowl whisk eggnog with egg, melted butter and rum extract.
Pour eggnog mixture over flour mixture, whisking until combined.
Spray 6 unit donut pan with baking spray and distribute donut mixture into. Bake 6-7 minutes or until wooden skewer comes out clean when inserted. Let cool completely before glazing.
When cool, invert donuts, one at a time, into icing sugar mixture. Place on wire rack and garnish with sprinkles immediately before icing sugar dries. Enjoy!