Heat slowly, stirring until gelatin is dissolved; remove from heat.
Stir in remaining eggnog and vanilla; chill until semi-thick.
In a large mixing bowl, beat sugar into cream until soft peaks form.
Gently fold in eggnog mixture, nutmeg, and nuts.
Pour into a ring mold; chill. until firm; unmold at serving time
Pour chocolate topping over the top; garnish with cherries and pineapple.