I've never actually tried baking bread in a toaster oven, but that's an interesting idea! I think you might experience some problems trying to bake a full-sized loaf of bread in your toaster oven, depending on its size. What I would personally suggest is to find a good breadstick or roll recipe, and bake them 2 or 3 at a time (my toaster oven is quite small). I also found a challah recipe that seems to be recommended for toaster ovens that you might want to check out.
I'll be honest with you; I'm not always a strict by-the-book kind of baker/cook. Some people are, if they are worried about getting just the right texture or feel. And we need people like that! But as long as you've got the proportions/chemistry right (which really, is the most important part of making a recipe work), I'm sure it will turn out delicious. I would give it a try with all-purpose flour or bread flour.