Position a rack in the center of the oven. Place a roasting pan or large baking pan on the lower rack of the oven and add 1-inch of boiling water. Preheat the oven to 275°F. Grease one 10- by 4-inch (16-cup) tube pan, two 9-inch springform pans or 8-inch (8-cup) tube pans, or four 1-pound coffee tins or 9- by 5- by 3-inch loaf pans, line the bottom and sides with parchment paper or greased pieces of brown paper bag, grease again, and dust with flour.
To make the batter: Sift together the flour, nutmeg, baking powder, and salt.
In a very large bowl, beat the butter on low speed until smooth, about 2
Increase the speed to medium, gradually add the sugars, and beat until light and fluffy, about 5 minutes.
Beat egg yolks into sugar/butter, one at a time. Add the vanilla.
Add the flour mixture in 3 stages alternately with the 1 cup bourbon, beginning and ending with the flour mixture.
In a large bowl, beat the egg whites on low speed until foamy, about 1 minute. Increase the speed to medium and beat until stiff but not dry, 5 to 8 minutes.
Fold ¼ of the whites into the batter, then gently fold in the remaining whites.
Fold egg whites and nuts together and stir into cake batter.
Pour into the prepared pan, tapping to remove any air pockets, but do not pack down.
Bake, rotating the pan every 45 minutes or so, until a wooden tester inserted in the center comes out clean or the internal temperature registers 200 to 208°F on an instant-read thermometer, about 3½ to 4 hours for a 10-inch tube pan, 3 hours for springform pans, 2¼ hours for 8-inch tube pans, and about 2 hours for loaf pans. Place on a wire rack and let cool in the pan, at least 2 hours.
You can wrap the cake airtight and place in the refrigerator for 2 to 3 days or in the freezer for up to 4 months.
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