Combine milk and bread; set aside. Combine banana and next 4 ingredients in a medium bowl, beating with a wire whisk until well blended. Stir in bread mixture and chocolate morsels.
Pour mixture evenly into 2 (10-ounce) custard cups coated with cooking spray. Place cups in an 8-inch square pan. Add hot water to pan to depth of 1 inch. Bake at 350° for 35 minutes or until set in center. Serve warm or at room temperature.