Preheat oven to 350F. Lightly grease a 9x5-inch inch loaf pan with non-stick cooking spray. Set aside.
In a medium bowl, whisk flour, baking powder, cinnamon, nutmeg, and salt. Set aside.
In a large bowl, combine eggnog, melted butter, granulated sugar, brown sugar, eggs, and vanilla extract. Whisk thoroughly.
Pour dry ingredients into wet ingredients and stir until just combined, being careful not to over mix. Spoon batter into prepared pan.
Bake for 48-55 minutes, or until bread is lightly browned and toothpick inserted into center comes out clean.
Remove from oven and let cool in pan for 10 minutes, then move to a wire rack to cool completely.
To make the glaze, in a small bowl, stir together the powdered sugar, eggnog, vanilla, and nutmeg. Drizzle over cooled bread.