Stir together 1 cup sugar and water in a saucepan. Cook over medium-high heat, stirring constantly, 3 minutes or until sugar melts. Cook, without stirring, 10 minutes or until medium amber in color. Remove from heat, and stir in cream, butter, whiskey, salt, and ground nutmeg. Whisk together egg and 1/2 cup sugar in a heatproof medium bowl; slowly whisk caramel sauce into egg mixture. Return mixture to saucepan, and cook over medium heat, stirring constantly, 2 minutes or until thickened.
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