In a medium saucepan, combine wine and shallots and bring to a boil. Reduce by half. Add stock, and boil until liquid is nearly gone. Reduce heat to low and stir in cream. Simmer 5 minutes. Season with salt, pepper, and nutmeg to taste. Remove from heat, and stir in cheese and basil, reserving a little basil for garnish. Cover, and keep warm.