Preheat oven to 350°F. Grease a 9x13 inch baking dish; set aside.
In a skillet cook peppers in olive oil until softened and set aside. Cover the bottom a dish with the bread triangles. Layer in order on top of the bread as follows: half the peppers, all chopped spinach, half of the basil and half the pine nuts.
Blend together the eggs, milk, garlic and nutmeg. Pour half of the egg mixture into the baking dish. Press so it soaks into the bread.
Layer half of each of the cheeses over the top. Cover the cheese layer with the remaining bread. Repeat the pepper, basil and pine nut layers. Pour remaining egg mixture into dish and press so the bread soaks it up. Top off with the remaining cheeses.
Bake, uncovered, for 40 to 45 minutes until set and light brown on top. Cool for 5 minutes before cutting.