In a mixing bowl, whisk together the eggs, eggnog, vanilla extract, ground cinnamon, and ground nutmeg until well combined.
Preheat a non-stick skillet or griddle over medium heat and add a pat of butter, allowing it to melt and coat the surface.
Dip each slice of bread into the eggnog mixture, soaking both sides for a few seconds, until well coated but not soggy.
Place the soaked bread slices onto the heated skillet or griddle. Cook for about 3-4 minutes per side, or until the bread is golden brown and cooked through.
Remove the cooked French toast and keep it warm on a plate while you finish cooking the remaining slices, adding more butter as needed.
Serve the eggnog French toast warm, dusted with powdered sugar and drizzled with maple syrup if desired.
Feel free to add toppings such as whipped cream, fresh berries, or nuts for extra flavor and texture.
You can prepare the eggnog mixture in advance and store it in the refrigerator for up to 24 hours for quicker preparation in the morning.
For a dairy-free option, use almond or coconut milk eggnog.