Preheat oven to 325 degrees F. Combine flour, baking soda, salt, cinnamon and nutmeg in small bowl. Set aside. Blend together butter, sugar, brown sugar and vanilla with electric mixer on medium speed. Add eggs, beating until creamy. Gradually beat in the flour mixture. Stir in the chocolate chunks, butterscotch chips and nuts.
Drop by rounded tablespoons onto greased baking sheets.