Preheat oven to 325 F. Combine flour, baking powder, cinnamon and nutmeg. Mix well with a wire whisk and set aside. Cream sugar and butter to form a grainy paste. Add eggnog, vanilla and egg yolks; beat at medium speed until smooth. Add flour mixture and beat at low speed just until combined (do not overmix). Drop by rounded teaspoonfuls onto ungreased cookie sheets 1 inch apart. Sprinkle lightly with nutmeg. Bake for 20 to 25 minutes or until bottom turns light brown.
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