Preheat the oven to 350 degrees and line two muffin tins with cupcakes liners
For the cupcakes, start by mixing your dry ingredients (this would include the cinnamon and nutmeg if you are including) in a bowl together with a whisk. Next add in the oil (and vanilla if including) and mix on medium speed with an electric mixer. Add in the Egg Nog slowly continuing to mix on medium speed for about 2 minutes. You'll notice there are NO EGGS in this recipe, you don't need them because of the egg nog. Please don't be tempted to add them in or your cupcakes might not turn out as tasty as they should.
Fill the cupcake lines about 3/4 full with the batter and then place in the oven to bake for about twenty minutes. They should just be slightly golden brown on top and a toothpick inserted in the middle should come out cleanly. While the cupcakes are baking, prepare the frosting.
For the frosting, Cream the butter using an electric mixer (or a stand mixer) until fluffy. Next add in the powdered sugar 1/2 cup at a time. Lastly, add in the vanilla, nutmeg, cinnamon and Egg Nog and beat on medium speed another 3-4 minutes until the frosting is the desired consistency.
Once the cupcakes have cooled, using a decorating piping bag and tip or just a regular spatula to frost. Sprinkle just a little additional nutmeg on top of the frosting (I grated the fresh nutmeg directly over the cupcake for mine).