Preheat Oven: Set your oven to 325°F. Prepare a 9x13-inch baking pan with butter or non-stick cooking spray and set the pan aside.
Prep Dry Ingredients: In a medium mixing bowl, sift the flour, baking soda, cinnamon, nutmeg, and salt together, then set the bowl aside.
Mix Wet Ingredients: In a large bowl, add the vegetable oil and both sugars with an electric mixer on medium speed until combined. Beat in the vanilla extract and then the eggs, one at a time.
Combine Mixtures: Gradually add the dry mixture to the wet mixture, mixing well between each addition. Note: the batter will be very thick.
Fold in Apples (and Nuts): Using a sturdy wooden spoon, fold the chopped apples (and nuts, if using) into the batter until evenly distributed.
Bake: Spread the batter into the prepared 9x13 pan then bake at 325°F for 50 to 60 minutes, or until a toothpick inserted into the center comes out without crumbs on it.
Prepare Glaze: While the cake is baking, make the glaze. In a medium saucepan, combine the butter, brown sugar, granulated sugar, and heavy cream. Heat over medium heat, stirring often, until the mixture begins to simmer. Remove from heat and stir in the vanilla extract. Let cool for 5 minutes.
Glaze the Cake: Coax the glaze out of the sauce pan with the bowl scraper and pour the caramel glaze over the cake while it’s still warm, spreading it evenly.
Serve: Allow the cake to cool slightly before slicing and serving.