To make the cake:
Preheat your oven to 350°F.
In a large bowl whisk together the flour, baking powder, salt, ginger, cinnamon, nutmeg, gloves, and allspice, and set aside.
Using a hand or stand mixer, add in the butter and sugar and mix until combined. (approximately 2-3 minutes).
Add the eggs one at a time, mixing well after each addition.
Add in the vanilla and molasses and mix until combined. Scrape down the sides of the bowl.
Add the flour mixture to the bowl, alternating with the milk, beginning and ending with the flour mixture.
Spray your 12-cup bundt pan with baking spray and then pour the batter into your pan, smoothing the top of the batter.
Bake the cake for approximately 60 minutes, or until a toothpick inserted into the center of the cake comes out clean.
Allow the cake to cool in the pan for approximately 20 minutes before inverting it (removing it from the pan). Allow the cake to continue to cool while preparing the icing.
To make the icing:
Using a hand or stand mixer, add the cream cheese and butter to your bowl. Mix until combined.
Then add the powdered sugar and vanilla to the bowl.
Slowly add in the milk until combined.
Once the cake has completely cooled, spread the icing over the cake as desired. You may have more than enough frosting which can be used when you serve the cake.
Optional: Dust the cake with nutmeg and top with your pecan pieces.
Serve and enjoy!