Dissolve the yeast in the warm eggnog in a large bowl.
Add the sugar, butter, salt, eggs and flour to the bowl and mix well.
Once the dough starts to come away from the edges, knead for about 5 minutes (if you are using your hands, dust them lightly with flour to avoid sticking) until a large ball is formed.
Cover the bowl with a towel and allow to rise for 45 minutes to 1 hour, until the dough has doubled in size.
Preheat your oven to 400 degrees.
Lightly flour your counter top and roll the dough out until it is approximately 16x21 inches, and ¼ inch thick.
Combine brown sugar, cinnamon and nutmeg in a small bowl.
Spread the melted butter over the surface of your dough.
Sprinkle the nutmeg, cinnamon sugar mixture generously over the surface of the dough (using the butter to make it stick).
Carefully roll the dough from the long top edge to the bottom edge.
Using thread (wrap the thread around the bottom of the roll, bring up and cross over each other and pull tight), or a knife, cut dough into 1 inch slices.
Lightly grease a baking pan (or 2).
Place rolls in baking pan and bake for about 15-16 minutes until they turn a lighten golden color.
While they are baking combine frosting ingredients. Add more powdered sugar to the frosting if it is too runny, add more eggnog if it is too thick.
Remove rolls from oven and allow them to cool for about 5 minutes before frosting.
Apply frosting generously to rolls.