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1. Line a large baking sheet with foil; set aside. Place puffed rice cereal in a resealable plastic bag; seal bag. Using a rolling pin, roll over bag to crush cereal lightly. In a large bowl combine crushed cereal, the 1 cup cashews, and the cranberries; set aside.
2. In a medium microwave-safe bowl microwave candy coating, nutmeg, and cinnamon, uncovered, on 100 percent power for 1 to 1-1/2 minutes or until candy coating melts, stirring every 30 seconds. Pour melted candy coating mixture over cereal mixture; stir until thoroughly combined.
3. Quickly drop spoonfuls of the mixture onto the prepared baking sheet. Let clusters stand about 30 minutes or until firm. In a small saucepan heat chocolate pieces and shortening over low heat until melted and smooth. Drizzle clusters with melted chocolate mixture. Sprinkle with additional finely chopped cashews.