In a bowl combine pudding mix with eggnog, milk and nutmeg. Beat with an electric mixer for two minutes.

In another bowl, beat the cream cheese with the powdered sugar and vanilla until soft and creamy. Transfer mixture to a small bowl and set aside.

In the bowl you just beat the cream cheese in, add the whipping cream and beat just until soft peaks form.

Add the cream cheese mixture in by distributing it in thirds around the mixing bowl. Beat together until stiff peaks are formed.

Fold in one cup of the whipping cream mixture into the pudding until combined and spoon into the pie crust. Decorate with remaining whipped cream mixture.

Refrigerate at least three hours and serve. Serves 6-8.