Separate eggs and refrigerate the whites.
Beat ylks until light in color.
Gradually beat in sugar, then slowly beat in 1 cup of rum.
Let stand covered for atleast 1 hr.
Add rest of liquor, cream, and peack brandy, beating constantly.
Refrigerate, covered, for 3 hours.
Beat egg whites until stiff, fold in.
Serve sprinkled with nutmeg.
Serve in a punch bowl or another medium sized bowl.