Preheat the oven to 350°. Cut bread slices into quarters and layer in a greased 9x13 pan; set aside.
Combine milk, heavy cream, and cinnamon. In a separate bowl, whisk together eggs, sugar, and vanilla. Add egg mixture to milk mixture and pour over the bread. Bake 40-45 minutes.
Prepare the sauce by melting butter in a saucepan. Add brown sugar and bring to a boil. Add the cream and stir well. Pour over warm bread pudding to serve. As an optional topping, add a scoop of vanilla ice cream.