Preheat the oven to 350 degrees F. Break the bread into bite-sized pieces, and soak it in the milk Squeeze the bread with your fingers to eliminate the excess milk and discard the milk.
Set the bread in a large bowl and add the remaining ingredients. Mix gently but thoroughly.
Pour the mixture into an 8 inch by 12 inch buttered baking pan. Bake for one hour or until a knife inserted in the center comes out clean. Serve with the Tequila Sauce.