Combine graham cracker crumbs and melted butter. Press firmly into bottom of 9-inch spring form pan.
Beat cream cheese in large bowl with electric mixer on medium speed until well blended. GRADUALLY add 1 cup of the eggnog, blending till smooth. Add remaining 1 cup eggnog, milk, pudding mix, rum, and nutmeg. Beat until well blended, about 1 minute.
Pour into prepared pan. Refrigerate 3 hours or until firm. Run a small knife or spatula around side of pan to loosen cheesecake; remove side of pan. Serves 12.