Pour several inches of oil into a deep saucepan. Begin heating it up to 375F degrees over medium-high heat. It's important to use a cooking thermometer to get it to the right temperature and not overheat the oil.
In a large bowl, combine pancake mix, sugar, cinnamon and nutmeg, milk, beaten eggs and 2 tbsp. oil.
Scoop batter up using a spoon or a small cookie scooper and drop into the hot oil. A generous teaspoon of the batter is enough.
Don't make them too big and don't let your oil get out of control hot and don't try to cook too many at one time.
Drop about 3-4 puppies at a time into the oil.
Flip them over once during cooking so the get evenly brown on all sides.
Small batches work best so you have a chance to flip them around as they cook. Continue with this process until they are all done.
When they are finished frying, place them onto a paper towel lined tray to drain excess grease. They will be golden brown when done.
Sprinkle with cinnamon sugar as soon as they come out of oil.
To make the icing, stir together powdered sugar, milk and extract in a small bowl. Stir until smooth. Then serve!
Notes
Pancake mix should be the kind where only water is added. We aren't using any water in this recipe but we need the consistency of that type of pancake mix.