Melt butter in a 6-quart pressure cooker over medium heat or a pan on the stove. Add onion; cook 2 minutes, stirring frequently. Add rice and garlic; cook 2 minutes, stirring constantly. Add wine; cook 1 minute or until liquid is absorbed, stirring frequently. Stir in broth, 1/2 teaspoon salt, 1/4 teaspoon black pepper, and nutmeg.
Close lid to electric pressure cooker securely, program for high pressure and set time for 6 minutes. When timer indicates the time is up, use quick release of pressure. Remove lid (carefully - lift away from your face) when safety latch releases.
Stir in cheese, rind, juice, and basil. Serve immediately.