HEAT oven to 375°F. Coat 16-oz. baking dish or 2 8-oz. custard cups with no-stick cooking spray.
PLACE half the bread cubes in prepared dish. Spoon 2 tablespoons preserves over top in small amounts. Sprinkle with half of chocolate chips. Top with remaining bread cubes.
WHISK half-and-half, egg, sugar and vanilla until blended. Pour over cubes. Press cubes down slightly into egg mixture. Top with remaining preserves and chocolate chips.
BAKE 20 to 25 minutes or until knife inserted near the center comes out almost clean and top is lightly browned. Cool 10 minutes before serving. Garnish with whipped topping.