Spray large skillet or saucepan with cooking spray. Add apples and lemon juice; toss to coat. Add raisins and cinnamon; mix well. Cook over medium heat 6 to 8 minutes or until apples are crisp-tender, stirring occasionally. Stir in sugar; cook 2 to 3 minutes or until apples are coated with glaze, stirring occasionally. Remove from heat; cover to keep warm.
Beat Egg Beaters and milk in large bowl with wire whisk until well blended.
Spray another large skillet or griddle with cooking spray; heat over medium heat. Dip 3 or 4 of the bread slices into egg mixture, turning to evenly coat both sides. Add to skillet; cook until golden brown on both sides. Repeat with remaining egg mixture and bread slices. Serve topped with the apple mixture and a serving of Reddi-wip, if desired.