Preheat oven to 350 degrees F. Arrange bread cubes on a baking sheet and bake for five minutes or until toasted.
Meanwhile, combine milk, egg substitute, brown sugar, cinnamon, nutmeg and vanilla; beat with a wire whisk. Stir in bread and raisins. Spoon into eight 6-ounce custard cups coated with cooking spray. Place cups in a shallow pan and add hot water to pan to depth of 3⁄4 inch.
Bake at 350 degrees F for 30 minutes or until a knife inserted in center comes out clean.
For whiskey sauce: Combine sugar, cornstarch, margarine, water and whiskey in a saucepan and bring to a boil over medium heat, stirring constantly. Boil, stirring constantly, for one minute. Serve warm over bread puddings.