In a medium mixing bowl, combine the eggs, sugar, cinnamon, vanilla and nutmeg, and whisk to blend. Whisk in the heavy cream and milk.
In another medium mixing bowl, combine the cubed bread, cranberries and walnuts. Pour the egg mixture onto the bread mixture, and mix all together. Sprinkle with brown sugar over the top. Cover with plastic wrap and refrigerate overnight.
Preheat the oven to 350 degrees F. Grease a muffin tin with the butter.
Spoon the soaked bread evenly into the muffin tins, then place the tin on a baking sheet. Bake until the center springs back to the touch, 30 to 35 minutes. Remove from the oven and let cool for about 5 minutes, then serve.
Professional Recipe: This recipe was provided by a chef, restaurant or culinary professional and makes a large quantity. The Food Network Kitchens chefs have not tested this recipe in the proportions indicated and therefore cannot make any representation as to the results.