Lightly grease a 9x13 baking dish
Heat the brown sugar, butter, and honey in a small saucepan over medium heat. Cook and stir until the mixture begins to boil; remove the mixture from heat, and pour into the prepared baking dish
Place the bread slices atop the brown sugar mixture
Whisk the eggs, eggnog, cinnamon, nutmeg, and vanilla together in a large bowl; pour over the bread slices
Cover the baking dish tightly with plastic wrap, and refrigerate 8 hours to overnight
Preheat oven to 325 degrees F. Remove the baking dish from the refrigerator, remove plastic wrap
Cut cream cheese into cubes and dot top of casserole, pressing the cubes down slightly
Cover casserole loosely with foil
Bake for 35 minutes. Increase heat to 375 degrees F, remove foil and continue baking until the top begins to brown, 5 to 7 minutes more
Sprinkle with cinnamon sugar
