Preheat the oven to 350 degrees F.
Combine the cranberries, sugar, cinnamon, and nutmeg in a small baking dish and cover. Bake for about 55 minutes. Remove the cover and stir to melt any un-dissolved sugar. Return the dish to the oven and bake for about 5 to 10 more minutes, or until the cranberries are soft and surrounded by a syrupy sauce. Remove the dish from the oven and immediately stir in the bourbon, to taste. Let the dish cool to room temperature, then chill for at least hour before serving. The sauce will keep for several weeks in the refrigerator.