In a large bowl, whisk together the flour, baking powder, salt, and nutmeg.
In a medium bowl, whisk together the eggs, vanilla, and melted butter. Then whisk in 2 cups of eggnog.
Add the wet ingredients to the dry ingredients and stir until smooth. If needed, add more eggnog a little at a time to reach your desired batter consistency.
Heat a lightly greased griddle. Pour the batter by 1/4 cupfuls onto the griddle. When bubbles form on top, flip the pancakes and cook for another minute or two, until golden brown.
Serve the pancakes warm with vanilla syrup, whipped cream, and a sprinkle of ground nutmeg.
To make the vanilla syrup:
In a medium saucepan, whisk together the water, sugar, and cornstarch. Bring to a boil, stirring constantly for 3-5 minutes.
Reduce the heat, then stir in the butter, salt, and vanilla until the butter is completely melted. Add the heavy cream and let it simmer for a few more minutes.
Enjoy your deliciously festive Eggnog Pancakes with Homemade Vanilla Syrup!