In a large bowl, whisk together the milk, eggs, butter, and vanilla. In a small bowl, mix together the sugar, cinnamon, nutmeg, and cocoa. Add to the milk mixture and whisk. Add the bread, raisins, and chocolate chips. Mix well.
Refrigerate for 30 to 60 minutes, until the bread has absorbed most of the liquid. Preheat the oven to 350°F. Lightly grease a 9 by 13-inch glass baking dish. Mix the bread
pudding once more to evenly distribute the chips and raisins. Pour into the prepared baking dish. Bake for 1 hour, or until set. Serve the pudding warm, or refrigerate and serve chilled.