Preheat the oven to 350°F and generously grease a Bundt pan with vegetable shortening, making sure to coat all creases well.
Cut the biscuits into quarters (or slightly smaller bite-sized pieces).
In a medium bowl, combine the granulated sugar and 3 tablespoons cinnamon. Stir until evenly mixed.
Toss the biscuit pieces in the cinnamon sugar mixture until fully coated.
Layer the coated biscuit pieces into the prepared Bundt pan. Fill the pan only about ¾ full to prevent overflow while baking.
In a medium saucepan, combine the butter, brown sugar, 1 teaspoon cinnamon, and nutmeg.
Cook over medium heat, stirring continuously, until the butter is melted and the mixture is smooth and fully combined.
Pour the brown sugar butter mixture evenly over the biscuit pieces in the Bundt pan.
Bake for 30–45 minutes, checking for doneness at 20 minutes. Rotate the pan and continue baking, checking every 5 minutes until the center is fully cooked and no raw dough remains.
Remove from the oven and let cool for 15–20 minutes.
Carefully invert onto a serving platter and serve warm. Pull apart and enjoy!