Preheat the oven to 350 degrees Fahrenheit and spray a 9x13 inch baking pan with cooking spray.
Mix together the cake mix, eggs, eggnog and oil until well combined, about 2-3 minutes.
Pour the batter into the prepared pan and bake for 28-33 minutes or until the cake springs back when tapped and a toothpick inserted in the center of the cake comes out clean.
Allow the cake to cool completely, about 1 hour, and then crumble it completely.
Mix the cream cheese spread into the crumbs until combined and the cake sticks together in a dough fashion.
Use a 1 ½ Tablespoon cookie scoop to make evenly sized cake balls and place them on a baking sheet lined with parchment paper.
Pour the candy melts into a microwave safe bowl and microwave for 30 seconds and then stir well.
Continue to heat in 10-15 second increments, stirring well in between, until the candy is completely melted.
Roll a cake ball in the candy coating, allow the excess to drip off and then replace on the baking sheet.
Sprinkle with nutmeg, sprinkles or other garnishes, optional and repeat with each cake ball until all are coated and decorated.
Place the decorated cake balls in the refrigerator for about 30 minutes or until the candy is completely hardened.