Preheat oven 350 degrees F. In a mixing bowl, toss the pineapple with 1 cup of sugar, 1/2 teaspoon cinnamon, and 1/2 teaspoon nutmeg. In a hot cast iron skillet, melt 1/2 stick of the butter. Caramelize the pineapple, about 3 to 5 minutes. For the batter: In a mixing bowl, cream one cup of the butter and 1 1/2 cups of the sugar. Stir in the eggs one at a time. Stir in the baking powder, baking soda, vanilla, 1/2 teaspoon cinnamon, 1/2 teaspoon nutmeg, and milk. Add the flour and mix well. Pour the cake batter evenly over the pineapple. Bake for about 40 minutes, or until the cake is golden brown and pulls away slightly from the edges of the skillet. Cool for about 30 minutes, then invert over a large platter