Preheat the oven to 350°. Spray a mini muffin pan or doughnut hole pan with nonstick cooking spray. Set aside.

In a medium bowl combine the flour, baking soda, baking powder, salt, cinnamon, and nutmeg.

In a separate bowl, cream together the butter and sugar with a hand mixer on medium speed until light and fluffy, scraping down the bowl as needed. Add in the eggs one at a time, mixing well after each addition. Add the rum extract.

Add ⅓ of the flour mixture to the bowl, alternating with ⅓ of the eggnog. The batter will be very think, try not to overmix. Just make sure all the ingredients are well combined.

Fill each mini muffin cavity about ¾ of the way full (almost to the top).

Bake on 350° for 10-15 minutes or until a toothpick comes out clean.

In a bowl, melt the butter. In a separate bowl, combine the sugar and cinnamon. Once the donuts are done cooking and are slightly cooled (cool enough to handle), dip the full donut in the melted butter, roll in the cinnamon sugar mixture and place on a serving plate. Best if served warm!