Prepare the Oven and Pan: Preheat your oven to 325°F (165°C). Grease and flour a Bundt pan to ensure easy removal of the cake later.
Cream the Butter and Sugar: In a large mixing bowl, cream the softened butter and sugar until light and fluffy. This will take about 5 minutes.
Add the Eggs: Add the eggs one at a time, beating well after each addition to ensure they are fully incorporated.
Combine Dry Ingredients: In a separate bowl, sift together the cake flour, baking powder, salt, ground cinnamon, ground nutmeg, ground allspice, and ground cloves.
Mix Wet Ingredients: In another bowl, combine the eggnog, vanilla extract, and dark rum or brandy (if using).
Alternate Mixing Dry and Wet Ingredients: Gradually add the dry ingredients to the butter mixture, alternating with the eggnog mixture. Begin and end with the dry ingredients. Mix just until combined; do not overmix.
Pour Batter into Pan: Pour the batter into the prepared Bundt pan, smoothing the top with a spatula.
Bake the Cake: Bake in the preheated oven for 60-70 minutes, or until a toothpick inserted into the center comes out clean.
Cool the Cake: Allow the cake to cool in the pan for 10 minutes, then turn it out onto a wire rack to cool completely.
Prepare the Glaze: In a small bowl, whisk together the sifted powdered sugar and heavy cream or whipping cream until smooth.
Drizzle the Glaze: Once the cake is completely cool, drizzle the glaze over the top, allowing it to cascade down the sides.