Peel and cut eggplant into 1/2-inch-thick slices. Combine milk, egg, and olive oil; stir well. Gradually stir in flour. Dredge eggplant slices in flour mixture, coating well.
Pour vegetable oil to a depth of 1 inch into a large heavy skillet. Fry eggplant, in batches, in hot oil over medium heat until golden. Drain on paper towels, and set aside.
Drain stewed tomatoes, reserving 1/2 cup liquid. Chop tomatoes. Combine chopped tomato, reserved 1/2 cup tomato liquid, tomato sauce, and next 5 ingredients in a medium saucepan, stirring well. Bring mixture to a boil; cover, reduce heat, and simmer 10 minutes.
Arrange half of eggplant slices in a lightly greased 13- x 9- x 2-inch baking dish. Layer half of mozzarella cheese over eggplant, and spoon half of tomato mixture over cheese. Repeat procedure with remaining eggplant, mozzarella cheese, and tomato mixture. Top with Parmesan cheese. Bake, uncovered, at 350° for 30 minutes or until thoroughly heated.