In a medium saucepan, combine the apple juice and spices. Bring to a boil, reduce heat to low, cover, and simmer for 10 minutes. Cool, and chill overnight in a large pitcher. To serve, strain the spiced juice into a punch bowl. Add the sparkling wine or champagne. Just before serving, add the ice.

For a fancy occasion, rim of the glasses with cinnamon-sugar! Just wet the edge of the glass in some extra apple juice, then dip the wet edges into a bowl that has 1 part cinnamon to 2 parts granulated sugar. (You can also buy cinnamon-sugar mix in the spice aisle at the supermarket.)