Combine sugar, water, butter, cinnamon, and nutmeg in a medium Dutch oven; stir well. Cook over medium heat, stirring occasionally, until butter melts. Add apples; cover and cook 10 minutes or until apples are tender. Drain apples, reserving 1/2 cup syrup.
Arrange apple slices in pastry shell; pour syrup over apple slices. Bake at 450° for 5 minutes. Reduce heat to 375°, and bake an additional 15 minutes. Remove pie from oven.
Combine egg and flour in a small mixing bowl, stirring until well blended. Gradually add whipping cream, stirring until smooth. Pour over apple slices. Return pie to oven, and bake at 375° an additional 10 minutes. Cool before slicing.