2 env. Knox gelatin
1/4 c. sugar
1 qt. egg nog
1/4 tsp. nutmeg
4 tsp. rum flavoring
1 c. heavy cream, whipped or 2 c. Cool Whip
1/3 c. chopped, drained cherries
1/3 c. nuts

Combine gelatin and sugar with 1 cup egg nog. Place over low heat, stir until dissolved. Take off heat and add rest of egg nog and flavoring. Chill until it mounds lightly. Fold in remaining ingredients. Pour into ring mold. Frost with colored whipping cream. Trim with maraschino cherries.