Soak bread in milk for 10 minutes. Place mixture into the food processor, along with egg and run until smooth. Empty contents into a work bowl, add remaining ingredients and stir until just combined. Divide dough into 4 equal pieces. Take a piece of dough and roll it out by hand on a floured work surface to form a log (about ¾” in diameter). Cut into 1” long pieces. Repeat with remaining dough. Place gnocchi on a flour dusted sheet pan and transfer to the freezer for 1 hour. After 1 hour, gnocchi can be transferred to a bag and stored frozen or cooked. To cook, bring 4 cups of water to a boil. Add gnocchi and wait for them to all float to the top. Wait an additional 2 minutes, then remove from boiling water. Toss with your favorite pasta sauce, fresh basil and grated parmesan, then serve.