Step 1: Grease 12-cup round molded cake pan with shortening.
Step 2: For the cake; In a large bowl, beat 1 1/2 cups granulated sugar and 1/2 cup butter with electric mixer on medium speed. Beat in 1 cup eggnog, the sour cream, rum extract and eggs until blended.
Step 3: In a separate bowl, whisk together flour and remaining dry cake ingredients. Stir dry mixture into wet mixture. Spoon evenly into pan (on top of the topping). Cover and refrigerate at least 8 hours or up to 24 hours.
Step 4: Preheat oven to 350°F.
Step 5: Uncover pan; bake 25 to 35 minutes or until toothpick inserted in center comes out clean. Cool 10 minutes and then flip out onto a rack to cool completely.
Step 6: In a small bowl, mix all glaze ingredients until smooth. Add more eggnog if not thin enough to drizzle. Spoon over coffee cake.
Step 7: Cut and serve.
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