Heat oven to 350°F. Grease 1-quart casserole with shortening or cooking spray. Place 2 cups of the bread cubes in casserole. Sprinkle with half of the peanut brittle; repeat with remaining bread cubes and peanut brittle.
In small bowl, beat egg. Stir in milk, 1/2 cup brown sugar and 1/4 cup butter; pour over bread mixture.
Bake uncovered 25 to 30 minutes or until golden brown.
Meanwhile, in 2-quart saucepan, mix all sauce ingredients. Heat to boiling over high heat, stirring constantly. Boil 3 to 4 minutes, stirring constantly, until slightly thickened. Serve warm bread pudding with warm sauce and whipped cream. Store sauce covered in refrigerator up to 1 week. Sauce may separate during storage; stir before serving.