PREHEAT oven to 375°F. Place cauliflower in 8- or 9-inch square baking dish.
MICROWAVE on HIGH 3 to 4 min. or until crisp-tender. Sprinkle with nutmeg. Top with Velveeta and Cheddar cheese. Sprinkle with cereal.
BAKE 12 to 14 min. or until topping is golden brown.