Lightly coat a 3-qt rectangular baking dish with cooking spray; set aside. In a medium bowl, combine bacon, aparagus and red peppers.
Place half of the bread cubes in the prepared baking dish. Top with half of the bacon mixture and half of the cheese.Repeat layers with remaining bread cubes, bacon mixture, and cheese.
In a large bowl, beat eggs with a whisk. Whisk in milk, mustard, salt and cayenne pepper. Carefully pour egg mixture evenly over bread mixture in dish.Using the back of a spoon and gently press down the layers to moisten the bread. Cover dish with plastic wrap and chill for 2 to 24 hours.
Preheat the oven to 325*.Bake , uncovered for 50 to 60 mins or till very puffy and golden,let it rest for at least 10 or so before serving so it will set. Makes 12 servings or more depending on how you slice it ...
FYI: PER SERVING: 290CAL..,16 G FAT (8 G SAT. FAT).178 MG CHOL.,518MG SODIUM, 19G CARBO..,1 G FIBER, 19 G PROTEIN.