Spray a 6-inch deep hotel pan with nonstick spray.
Place potatoes evenly on bottom of pan.
Add 1/4 of the cheese and 1/3 of the onions, peppers, sausage and bacon.
Place bread slices on top of second layer. Repeat previous step for third layer.
Place the eggs and milk in a large bowl and beat until well blended. Pour eggs evenly over the top, cover with remaining potatoes. Cover and bake 1 1/2 hours in a preheated 375°F oven or until potatoes are tender. Remove cover, sprinkle with remaining cheese and bake, uncovered, 5-7 minutes or until cheese has melted. Let stand 15 minutes before serving to allow flavors to absorb and for easier cutting.
Serve hot with a dollop of low-fat sour cream (optional).