Prepare the pan by wrapping outside of the pan in aluminum foil. Many springform pans, especially ones that have been used quite a bit, have a chance of leaking water inside. Wrapping the springform in foil will help keep water out.
Preheat the oven to 325° and take out a roasting pan that is large enough to comfortable fit the cheesecake springform inside. (You can even use a large aluminum pan if you don’t have a roasting pan.)
Graham Cracker Crust:
Combine graham cracker crumbs, ground nutmeg, melted butter, rum extract, and brown sugar in a mixing bowl and mix very well.
Grease the inside of the springform pan with some cooking spray and spread crumb mixture in the bottom on the prepared springform.
Press the graham cracker mixture all over the bottom and a little up the sides.
Eggnog Cheesecake Filling:
In a bowl of an electric mixer, beat cream cheese on medium-high speed for about a minute, until smooth and fluffy. Scrape sides and bottom on the bowl and beat for another minute.
Pour in sugar while beating and add eggs, one at a time. Beat it until smooth. Stop to scrape bottom and sides of the bowl.
Add eggnog and rum extract and beat, still on medium-high speed, until all mixed very well.
Lower the speed and beat in corn starch and nutmeg. Scrape sides and bottom of the bowl and mix for a few more seconds to make sure everything is evenly mixed.
Transfer batter into the springform and spread in evenly.
Baking the Cheesecake:
Place a large roasting pan into the oven and place cheesecake springform inside the roasting pan. Carefully add hot water to the roasting pan, about half way up the side of the springform.
Bake for 85 minutes. Turn off the oven and open the oven door half way. Let cheesecake rest for 10-15 minutes and take it out of the oven. Take off the foil wrap off the pan.
Let it rest for 10 minutes on the counter and then gently run a butter knife between sides of the cheesecakes and the springform to carefully separate it. (You don’t actually have to take the cheesecake out of the pan until ready to serve.)
Cool cheesecake for an hour and then cover the pan with plastic wrap and refrigerate for at least 6 hours or overnight.
Eggnog Whipped Cream:
TIPS: Make sure the bowl and the whisk attachment are clean and dry. Chill the bowl of the electric mixer in the refrigerator for a few minutes and don’t take the heavy whipping cream and eggnog out until ready to whip.
Beat cold heavy whipping cream and powdered sugar with a whisk attachment on medium-high speed. Slowly pour in eggnog and rum extract while mixing and keep mixing until stiff peeks form.
Transfer 2/3 of eggnog whipped cream into a piping bag with a decorative attachment and spread remaining whipped cream on top of the cheesecake. Pipe rosettes on top of the cheesecake to decorate it.