Mash bananas in a bowl. In a mixing bowl, cream softened butter with granulated and brown sugar, then beat in eggs, vanilla, and mashed bananas. In another bowl combine flour, baking soda, salt, and optional cinnamon. Alternate adding dry mix and buttermilk to the wet mixture until just combined.
Divide batter evenly between two 9" round pans. Bake at 350°F (175°C) for 25–30 minutes, or until a toothpick comes out clean. Cool completely on wire racks.
In a heavy-bottomed saucepan, melt granulated sugar over medium heat until it turns amber. Carefully whisk in butter until combined, then slowly add heavy cream. Remove from heat, stir in vanilla extract and sea salt. Allow to cool slightly.
In a bowl, beat softened butter until creamy. Gradually add powdered sugar, then beat in cooled caramel sauce, heavy cream, and vanilla until smooth and spreadable.
Place one cake layer on a board, spread a layer of caramel buttercream, top with second layer, frost the top and sides with remaining buttercream. Drizzle additional caramel sauce over the top, letting it drip down the sides.