In large bowl or the bowl of an electric mixer fitted with the paddle attachment, beat eggs and milk just to blend. Stir in bread and let stand until soft, about 10 minutes. Add ground beef, cheese, Italian seasoning, salt, and pepper and beat on low speed or mix until well blended.
Gently shape mixture into 2-inch balls; place meatballs about 1 inch apart on a lightly oiled or foil-lined 14- by 16-inch baking sheet.
Bake in a 350° regular or convection oven until no longer pink in the center (cut to test), 20 to 25 minutes.