Add the flour, baking powder, salt, sugar, cinnamon, and nutmeg to a large bowl. Whisk to combine.
In a large measuring cup, whisk together the eggnog, eggs, vegetable oil, and vanilla until combined.
Pour the wet ingredients into the dry ingredients and mix until just incorporated. The batter will be thick, but still runny. A few lumps are ok.
Add 1 tablespoon of butter or vegetable oil to a hot 10" skillet or preheated griddle. Scoop ¼ cup of batter and add to the skillet.
Cook the pancakes on medium heat for 2 minutes until puffed around the edges and starting to bubble. Flip and cook the second side until risen and light and fluffy, about 2 more minutes.
Remove the pancakes from the skillet and serve immediately.