Beat eggs, milk and nutmeg in shallow dish until blended. Soak one bread slice at a time in egg mixture, turning once, letting stand about 1 minute per side.
Heat lightly greased large nonstick skillet over high heat until hot.
Place as many bread slices in hot pan as will fit in single layer. Immediately reduce heat to medium. Cook until golden brown and no visible liquid egg remains, 2 to 3 minutes per side. Repeat to cook remaining bread. Serve immediately.
Any bread will work with this recipe - French, Italian, raisin, cinnamon-raisin, whole-grain or multi-grain. Bread that has become a little dry (1+ day old) is recommended. To freeze French toast, cool slices on a wire rack, then wrap airtight in serving-size portions and freeze for up to 1 month. To reheat, unwrap slices and heat in a toaster oven, a regular toaster or on an ungreased baking sheet in a preheated 375°F oven for 8 to 10 minutes.