In a stainless steel skillet over medium-high heat, melt butter, swirling the pan occasionally. The butter will begin to foam, which signals the water in the butter is boiling off. (Watch closely at this stage.) Tiny brown specks of milk solids will begin to appear at the bottom of the pan; constantly stir and scrape these off using a spatula so they don’t stick.
As soon as the butter turns chestnut brown and smells nutty, remove the pan from the heat. Pour the browned butter into the bowl of a stand mixer.
To the hot browned butter, add the brown sugar, stirring to combine. Set aside to cool for 25-30 minutes.
Preheat oven to 400°F. Line a baking sheet with parchment paper.
To the cooled brown butter mixture, add eggs, vanilla, and molasses. Mix until all ingredients are fully incorporated, stopping to scrape down the sides of the bowl as needed.
In a large mixing bowl, whisk together oats, flour, baking powder, baking soda, salt, cinnamon, and nutmeg.
With the mixer on low speed, slowly add the dry ingredients until fully incorporated.
Mix in chocolate chips.
Using a 2-tablespoon scoop, drop the dough onto the lined baking sheet. Roll each into a ball. Then, gently press to slightly flatten the cookies.
Bake for 6-8 minutes. They may look slightly doughy, and that is okay.
Let the cookies rest on the baking sheet for a few minutes before transferring them to a wire rack to cool completely.