In small bowl, place sparkling sugar; set aside.

In medium bowl, beat condensed milk, orange peel, lemon peel, vanilla, salt and eggs with whisk or fork until well blended.

In 12-inch nonstick skillet, melt 1 tablespoon of the butter over medium heat.

Dip 12 of the bread cubes into egg mixture, using a fork to turn and coat all sides; let excess drip back into bowl.

Cook cubes in butter 2 to 3 minutes, turning frequently with tongs, until golden brown.

Place French toast bites in bowl with sugar; toss gently.

Remove to serving platter; cover loosely with foil to keep warm.

Repeat with remaining 1 tablespoon butter and 12 bread cubes.

Serve with syrup and preserves.