Rinse the rice in 3 or 4 changes of water until the water runs clear. Soak the rice in water for 30 minutes, then drain and set aside.
Heat 2 tablespoons of vegetable oil in a saucepan with a tight fitting lid over medium-high heat. Pour in the cumin seeds, and cook briefly until they begin to pop, about 30 seconds. Add the cardamom pods, cloves, and cinnamon stick; continue cooking for another minute until the cinnamon stick absorbs the oil.
Pour in the rice, and stir well to completely coat with the oil. Stir in the water, salt, onion, and peas. Bring to a boil, cover with the lid, reduce heat to medium-low, and simmer until the rice has absorbed all of the water, about 15 minutes.
Meanwhile, in a separate pan, heat the remaining 1 tablespoon of oil over medium heat. Stir in the cashews and slivered almonds; cook until golden brown, then stir into the cooked rice.