In a large bowl, soak pieces of bread in milk until soggy, about 3 minutes. Stir in remaining ingredients for the meatballs and stir together until well blended.
Using a cookie scoop, divide the mixture into approximately 24 meatballs. Roll each individual meatball to be evenly round. Heat large skillet over medium heat with canola oil {I used about 2 tablespoons}. Place meatballs into hot pan and brown.
While meatballs are cooking, measure all ingredients for the sauce together and whisk to combine. Set aside.
Once meatballs are brown, remove from pan and deglaze with sauce. Stir to remove any dark bits at the bottom of the pan and replace meatballs into skillet and coat in sauce.
Cover and cook anywhere between 30 minutes and 3 hours. The longer they cook, the more delicious they become. Serve as is as an appetizer or over pasta or rice for a main dish.