1. In the mixing bowl of a stand mixer, mix the butter, eggs, cream, sugar, brown sugar, vanilla, Rum, and water, until smooth.
2. In a separate bowl, add the flour, cinnamon, nutmeg, salt, baking powder, and baking soda, and mix well.
3. Add the flour mixture to the mixing bowl, a little at a time, until all ingredients are mixed together.
4. Scrape down the sides of the mixing bowl with a spatula, and mix again until the batter is smooth.
5. Line a 24 count, or 2 - 12 count muffin tins with cupcake liners, and fill each liner about 3/4 of the way full with the batter.

In another bowl, make the crumb topping;

1. Mix the flour and sugar together, and sprinkle the Rum on the flour mixture.
2. Add the butter, and cut the butter into the flour like you were making pie dough, when small crumbs form, sprinkle the topping on top of each of the cupcakes.
3. Place the cupcakes in a 350 degree oven for 15 - 20 minutes, or until a toothpick inserted in the center comes out clean. Remove the cupcake from the oven to a wire rack to cool.

Make the Frosting;

1. While the cupcakes are cooling, place the butter, vanilla, and cream/rum mixture in the mixing bowl, and blend until smooth and well blended.
2. Mix the cinnamon with the powdered sugar, and add the powdered sugar to the mixing bowl in small amounts, blending after each addition, until all ingredients are added and blended together.
3. Mix until the frosting is smooth and creamy.
4. Place the frosting in the refrigerator to chill.

Make the Buttered Rum Caramel:

1. In a heavy sauce pan, melt the caramels just until they're melted, and you can stir them.
2. Add the butter, and stir to melt.
3. Add the Rum to the corn starch, and stir to blend.
4. Over medium heat, add the cornstarch/rum mixture to the caramels, and stir until it begins to thicken.
5. Remove the Caramel mixture, cool a little, and pour it into a squeeze bottle.
6. Set aside to cool.
7. When the cupcakes are completely cooled, place the frosting in a pastry bag with a large fluted tip, and pipe the Frosting onto the cupcakes, swirling around and leaving a place to add the Caramel Rum.
8. When all cupcakes have been frosted, make sure the caramel in the squeeze bottle is cool, and squeeze a generous amount in the middle of each cupcake.
9. Serve and Enjoy!