Combine milk, sugar and vanilla in saucepan. Stir to dissolve sugar, slowly bring to the boil. Immediately remove from heat. Cool.
Beat together eggs and cream then gradually,whisk in milk mixture.
Spread half the bread with jam and cut in quarters. Place in slow cooker, slightly overlapping layers. Sprinkle with sultanas. Repeat process with the remaining non jammed bread and sultanas.
Gently pour cream mixture over bread. Press down lightly to compress and coat well in cream mix.
Cook on low for 2.5 hours. At 2 hours, sprinkle with cinnamon and icing sugar or caster sugar.