Mix cream cheese, bananas, peppers and nutmeg until well blended; set aside.
Heat oil in large heavy saucepan to 375F.
Add plantains, in batches; fry 2 minutes.
Drain on paper towels; cool. Smash each plantain with the bottom of heavy pan or with a rolling pin. Return plantain slices to the hot oil; fry an additional 1 to 2 minutes or until golden brown.