Dissolve yeast in a small bowl with 1/4 cup water. Set aside.
In a saucepan heat the milk and eggnog until simmering.
In a mixing bowl combine melted butter, sugar, salt, eggs, and yeast. Give it a whisk.
Add in the flour and warm milk.
Using a bread hook, mix on low until the ingredients are combined.
Flour your hands and remove the dough.
Knead on a floured surface for about 5 minutes.
Place the dough in a greased bowl and let it rise for 1 1/2 hours until it almost doubles in size.
When doubled, punch down the center and prepare a floured surface to roll the dough.
Roll the dough out on the floured surface into a 15×9 inch rectangle.
Brush with more melted butter, don’t be shy!
In a small bowl, mix cinnamon and sugar and then spread it all over the butter. The more the better!
Starting at the 15-inch side, tightly roll up the dough and pinch the edge together to seal. Cut into 12-15 slices.
Place cinnamon roll slices an inch or two apart in a baking dish.
Let them rise again (about 45 minutes) until they double in size. They will all be touching. This is also when you can let them sit in the refrigerator overnight. Just let them come to room temperature before baking
Bake at 350 °F for about 25-30 minutes or until lightly browned.
Whip the butter, cream cheese, powdered sugar, and eggnog on high until fluffy and smooth.
Pour and spread the icing all over the fresh-baked cinnamon rolls.