Preheat the oven to 350 degrees F. Grease a baking pan.
Mix together sugar, eggs, heavy cream, vanilla and milk in a bowl.Pour over cubed bread and let sit for 15 minutes.
Pour bread mixture into prepared pan and bake for 35 to 45 minutes, or until set. Remove from oven.
To make the sauce, place all the ingredients in a small saucepan over low heat for about 5 minutes, stirring often.
To serve drizzle with the Dulce de Leche sauce.