In an 8x8 high walled baking dish, add the bread.
Toss half over the chopped ham into the bread mix.
Whisk the milk eggs together in a larger bowl.
Add salt and pepper to the mix along with the vanilla, cinnamon, nutmeg, and thyme.
Pour over the bread mixture.
Add the remaining ham and dried cranberries.
Sprinkle with the Monterey Jack and cover with the swiss cheese.
Cover and place in fridge overnight.
Preheat oven to 350 degrees F.
Cover the strata with foil or a tight-fitting lid and bake 20 minutes.
Remove foil and bake an additional 25-30 minutes until the eggs are set.
Let cool for 5 minutes before slicing and serving warm