In a large mixing bowl, whisk the eggs until beaten. Whisk in the eggnog, butter, vanilla, and nutmeg. Whisk in the sugar, stirring until completely dissolved.
4 eggs, 2 1/2 cups eggnog, 2 tbsp melted butter, plus extra for the pan, 2 tbsp vanilla extract, 1/8 tsp ground nutmeg, 1/2 cup sugar
In a separate bowl, add chopped donuts & cranberries, gently tossing until combined.
5 cups chopped, stale glazed yeast donuts, 1 cup fresh cranberries
Liberally butter a 9" pie dish. Transfer the donut and cranberry mixture to the greased dish. Arrange so they're evenly dispersed, and securely in the dish. It will be a tight fit.
Pour the egg mixture evenly out over the donuts, and used the back of a spatula to gently press down on the donuts to help them absorb the liquid.
Place a buttered piece of foil ontop of the dish, and press around the edges to seal/secure it. Refrigerate the dish for at least an hour, but up to overnight while the pastry soaks up the custard mixture.
Preheat the oven to 325 degrees, and allow the dish to rest on the counter top while doing so. Place a cake pan, full of water, on a lower shelf in the oven. Bake the bread pudding on a shelf above it for 55-70 minutes, removing the foil after the first 40.
Bake until the dish is golden brown all over, puffy on top, and the mixture's set in the middle but still bit jiggly.
Remove the dish from the oven, and allow it to rest for a full 30 minutes before scooping and serving. Dust either the whole dish, or individual servings, with powdered sugar just before serving.
powdered sugar