In a large bowl, whisk together the dry ingredients. Slowly add the milk, whisking constantly. Add the lightly beaten eggs, honey, and vanilla. Pour this mixture into the bottom of a pie plate or another small shallow dish.
Dip each slice of bread into the mixture and let it absorb the egg mixture on each side. Toast on griddle or in pan until golden brown. Whisk the mixture prior to dipping each slice of bread. This will ensure that cinnamon will be on each slice, instead of all the cinnamon being absorbed with the first few slices.