In shallow bowl, combine milk, eggs, cinnamon and vanilla; salt to taste. Whisk until well combined. Place crushed cereal in a shallow dish.
In batches, dip the bread into egg mixture; press into crushed cereal, coating both sides.
In a flat skillet, over medium heat, melt enough butter to coat pan. Place coated bread in pan; cook until golden on both sides, about 2 minutes per side. Repeat as needed with remaining bread.