1 pound bakery white bread, cut into 1-inch cubes (16 cups)
1/4 cup extra-virgin olive oil
1 pound sliced applewood-smoked bacon, cut into 1/2-inch pieces
1 large onion, halved and thinly sliced
One 28-ounce can whole Italian tomatoes—drained, chopped and patted dry
1/2 teaspoon crushed red pepper
1/2 pound extra-sharp cheddar, shredded (about 2 cups)
1/2 pound Monterey Jack cheese, shredded (about 2 cups)
2 tablespoons snipped chives
1 3/4 cups low-sodium chicken broth
Salt
8 large eggs
Hot sauce, for serving