Prepare a 2 ½ quart casserole dish (that fits into the electric pressure cooker) with nonstick cooking spray.
Place bread into the casserole dish. Sprinkle with chocolate chips and pecans (if using) allowing them to fall into the cracks between the cubes of bread.
In a mixing bowl whisk together the remaining ingredients and pour over the bread, soaking all of the bread cubes. Press the bread down into the mixture if needed.
Cover the casserole dish with aluminum foil spritzed with nonstick cooking spray.
Place the trivet into the electric pressure cooker and add the manufacturer’s recommended amount of water. Create a sling from aluminum foil (folding a sheet of foil into thirds) and lower the casserole dish into the electric pressure cooker.
Cover the electric pressure cooker and set the valve to sealing. Program to cook on “manual” or “pressure cook” for 30 minutes.
Allow the pressure to manually release for 15 minutes before quickly releasing the remaining pressure. Carefully remove the casserole dish from the electric pressure cooker using the created sling.
Serve with whipped topping, chocolate or caramel sauce, and/or vanilla ice cream.