Chatham Artillery Punch

Squeeze and strain the lemons to make 16 ounces of juice. Peel the lemons and muddle the peels with the sugar. Let the peels and sugar sit for an hour, then muddle again. Add the lemon juice and stir until sugar has dissolved. Strain out the peels. Fill a 2- to 3-gallon bucket or bowl with crushed ice or ice cubes. Add the lemon-sugar mixture and the bourbon, Cognac and rum. Stir and add the Champagne. Taste and adjust for sweetness. Grate nutmeg over the top and serve.