Prepare the oven and pan. Preheat the oven to 300°F (150°C). Wrap the outside of a 9-inch springform pan securely with foil to help prevent water from seeping into the pan.

Make the crust. Combine the gingersnap crumbs, melted butter, and sugar in a bowl. Mix until evenly moistened and the mixture holds together when pressed.

Form the crust. Press the mixture firmly and evenly across the bottom of the springform pan and about 1 inch up the sides. Set aside.

Start the filling. Beat the softened cream cheese and condensed milk until smooth. Add the ponche de crème and mix until combined.

Check the spice. Taste the filling before adding the eggs. If you'd like more nutmeg flavor, add up to 1/4 teaspoon ground nutmeg.

Add the eggs. Add the eggs one at a time, mixing just until each egg is incorporated before adding the next.

Finish the filling. Add the flour and mix just until incorporated. Pour the filling into the prepared crust and smooth the top.

Prepare the water bath. Place the springform pan inside a larger roasting pan. Pour warm water into the roasting pan until it reaches about halfway up the sides of the springform pan.

Bake. Bake for about 70 minutes, until the edges are set and the center still has a slight jiggle.

Cool gradually. Turn off the oven and leave the cheesecake inside with the oven door closed for 20 minutes. Open the oven door and leave the cheesecake inside for another 15 minutes.

Cool and chill. Remove the cheesecake from the oven and water bath and transfer it to a cooling rack. Let it cool completely, then refrigerate until thoroughly chilled, at least 4 hours or preferably overnight.

Decorate, if desired. Once chilled, spread a thin layer of whipped cream over the cheesecake and pipe additional whipped cream around the edge. Drizzle with caramel sauce before serving.