Grease a 1.5 litre oven proof dish.
Dice peppers into small pieces.
Drain corn and reserve liquid. Add sufficient milk to reserved liquid to make one cup.
Beat eggs well, add salt, sugar, nutmeg, milk and cream. Stir in peppers.
Pour mixture into the prepared dish, being sure to spread the mixture evenly over bottom of dish.
Place dish in a water bath and bake at 180 degrees C / 350 degrees F or until the blade of a knife inserted in the centre comes out clean. Do not over cook.
To Serve: Cut into squares and garnish with pepper rings.