In a large skillet over medium heat, melt the butter. Add the brown sugar and cinnamon, stirring until the sugar is completely dissolved.
Add the sliced bananas to the skillet and gently stir to coat them with the butter and sugar mixture. Cook for 2-3 minutes until the bananas begin to soften but are not mushy.
Carefully add the banana liqueur to the skillet. Tilt the pan slightly to ignite the liqueur using a long lighter. Be cautious, as flames will appear. Allow the flames to subside naturally.
Once the flames have subsided, add the dark rum to the skillet. Stir gently and let the mixture simmer for an additional 2-3 minutes, allowing the alcohol to cook off.
Remove the skillet from the heat and stir in the vanilla extract. The sauce should be rich and caramelized.
Serve the Southern Banana Foster over a generous scoop of vanilla ice cream in individual bowls. Optional: Garnish with chopped pecans or walnuts for added texture and flavor. Enjoy your Southern Banana Foster delight immediately, savoring the warm, boozy, and caramelized goodness. It's a taste of the South that'll have everyone asking for seconds!