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Preheat oven to 350°F. For the Eggnog Pound Cake, mix flour, baking powder and salt in medium bowl. Mix milk, light cream, cinnamon, nutmeg, cloves and vanilla in small bowl. Set aside.
Beat butter and granulated sugar in large bowl with electric mixer on medium speed until light and fluffy. Beat in eggs, 1 at a time. Gradually beat in flour mixture alternately with milk mixture on low speed until just blended, scraping sides occasionally. Pour batter into greased 9x5-inch loaf pan.
Bake 60 to 65 minutes or until toothpick inserted in center comes out clean. Cool in pan 10 minutes. Remove from pan; cool completely on wire rack.
For the Rum Sauce, mix brown sugar, butter and heavy cream in small saucepan, Bring to boil on medium heat. Reduce heat to low; simmer 10 minutes or until slightly thickened. Remove from heat. Stir in rum and vanilla. Return to boil on medium heat. Serve over pound cake.