In a saucepan, combine apple juice and spices. Bring to a boil, reduce heat to low, cover, and simmer for 10 minutes. Cool, then chill overnight in a large pitcher.

Strain spiced juice into a punch bowl and add sparkling wine. Just before serving, add ice.

If desired, rim the glasses with cinnamon-sugar. In a bowl, combine 1 part cinnamon to 2 parts sugar. Wet edge of glass in apple juice, then dip into cinnamon-sugar. (You can also buy cinnamon-sugar mix in the spice aisle at the supermarket.)