Eggnog Cupcakes: the recipe

As promised, here's the recipe for Eggnog Cupcakes.  It came in the mail in a flyer for Braum's, a wonderful local-ish dairy store who needs a real graphic designer but puts out some to-die-for products and recipes.

CREAMY EGGNOG CUPCAKES

Cupcakes
1 (16 oz.) package pound cake mix
1 1/4 c. eggnog
2 large eggs
1/2 tsp. nutmeg
1/2 tsp. vanilla extract

Preheat oven to 350 degrees.  Beat all ingredients together at low speed until blended.  Increase speed to medium and beat two minutes more.  Place baking cups into muffin tin and spoon batter into cups.  Bake for 18-20 minutes or until toothpick inserted into center comes out clean.  Transfer to wire rack; cool completely before frosting.

Frosting
1/2 c. butter, softened
3 oz. cream cheese, softened
16 oz. powdered sugar (would someone please tell me how many cups this is??)
1/4 c. eggnog
1/2 tsp. nutmeg
1/2 tsp. vanilla extract

Beat butter and cream cheese until creamy.  Gradually add powdered sugar alternating with eggnog, beginning and ending with sugar and beating at low speed.  Add nutmeg and vanilla extract and beat until smooth.  Spread over cupcakes.