Step 1

Mix 1/4 cup sugar and 1/2 teaspoon nutmeg.

Step 2

Separate biscuits, cut into fourths and place in a large food storage bag.

Step 3

Add sugar mixture to biscuits; shake well to coat.

Step 4

Transfer biscuits to a greased 6 cup bundt pan (double recipe for a 12 cup pan).

Step 5

Mix melted butter and 1/2 cup sugar; pour over biscuits in pan.

Step 6

Bake at 350 degrees for 28 minutes or until golden brown.

Step 7

Cool in pan 10 minutes; tip upside down onto a serving plate and top with eggnog glaze.

Step 8

For the glaze: mix all ingredients; add eggnog until you reach desired consistency. Drizzle over monkey bread.