In a 9x13 glass baking pan, put 1/2 loaf of cubed bread on bottom of greased pan. In a bowl, mix together chicken, celery, onion, water chestnuts, salt and pepper, and 1 cup mayonaise. Spread on top of bread, then add rest of loaf of cubed bread.
Mix eggs and milk, pour on top of mixture. Bake covered 40 minutes at 350 degrees. Remove foil; mix 1 large can of cream of chicken soup and a cup of mayonaise and spread on top.
Bake another 10 minutes more. Add shredded cheeses and bake another 10 minutes. Before serving top with sliced almonds. With this dish, I always let it sit for several minutes before I cut and serve it. I like to make all my casseroles the day before and then refrigerate overnight and bake as directed. It just adds more flavor to the dish.