Preheat the over to 350º and generously butter a 9 by 5 inch loaf pan. This makes a big loaf, so 8 by 4 is definitely not big enough. It would make 4 mini loaves.

In a large bowl, whisk together the flour, baking powder, salt and nutmeg.

In another medium bowl, whisk the eggs for about 30 seconds.

Add the sugars and whisk until the mixture lightens slightly.

Add the eggnog, vanilla and almond extracts and whisk until well incorporated.

Add the butter, whisking constantly, so that it doesn't separate. It might a little anyway, but that is okay.

Whisk in the rum - if you opt to leave the rum out, use 1/4 cup more of the eggnog.

Pour the wet ingredients into the flour mixture, and fold together - it will be a fairly wet mixture, and a few small lumps are ok.

Fold in the cranberries.

Spread the batter evenly in the prepared pan, and bake for about 80 to 90 minutes turning every 30 minutes or so. This may seem like a long time, but it needs this long. If the top begins to get too brown, tent it with some aluminum foil for the last bit of baking time. I also like to use an instant read thermometer to ensure things are baked enough - the temperature for this should be at least 195 - 200º, in the center of the loaf.

Remove the loaf from the pan, and cool on a rack. Serve slices with butter, cream cheese, or whatever strikes your fancy. It is awesome toasted.

Store leftovers tightly wrapped and if keeping more than a day or two, refrigerate. It freezes well too.