In a large bowl, whisk together all the dry ingredients, flour through nutmeg. In a separate bowl, mix the remaining wet ingredients. Combine the two mixes, whisking until a thin batter forms.
Coast a 12-cup mini bundt cake pan with cooking spray. Evenly divide the batter among the individual molds. Bake for 11-13 minutes, or until a toothpick comes out clean. Let mini cakes sit for 10 minutes before removing from pan.
When cakes have completely cooled or right before serving, lightly dust the cakes with powdered sugar.