Cut loaves of bread into large bite-size pieces (with pizza cutter) and put in a greased angel food cake pan or a Bundt pan.
Sprinkle with sugar and cinnamon and nuts. Bring brown sugar, white sugar, butter and ice cream to a boil. Pour over cut up bread. Let rise 30 minutes to 1 hour. Bake at 350 degrees for 25 – 30 minutes. (Put a sheet pan underneath to catch drips!)