1. In a small bowl, combine eggs, salt and pepper. Melt butter in a skillet; add eggs. Cook and stir until set; set aside. Cut the top fourth off loaf of bread. Carefully hollow out top and bottom, leaving a 1/2-in. shell. (Discard removed bread or save for another use.) Set top aside.
2. In bottom of bread, place a fourth of the ham. Layer with half of the Monterey Jack and cheddar cheese, red pepper, scrambled eggs and tomato slices. Top with the remaining cheese and ham. Gently press the layers together. Replace bread top and wrap tightly in foil. Bake at 350 degrees F for 25-30 minutes or until heated through. Let stand for 10 minutes before cutting.