Remove 4 strips orange zest with a vegetable peeler. Squeeze the orange and strain the juice.
Melt the butter with the sugar, orange zest and vanilla bean in a large skillet over medium heat. Cook, stirring, until the sugar caramelizes, about 5 minutes. Remove from the heat and stir in the liqueur, orange juice and a pinch of salt.
Return the skillet to medium heat, add the bananas, cut-side down, and cook until glazed and golden, 1 to 2 minutes. Remove from the heat and divide among bowls.
Add the rum to the pan and return to medium heat. Warm for a few seconds without stirring, then carefully tilt the pan so the rum ignites (if using an electric stove, hold a lit match near the sauce to ignite it). Spoon the flaming sauce over the bananas. Garnish with whipped cream and the glazed orange zest.
Use extreme caution when igniting alcohol. Remove the pan from the heat source before adding the alcohol. Pour the alcohol into the pan and carefully ignite with a match or click lighter. Return the pan to the heat and gently swirl to reduce the flames.
Courtesy of Food Network Magazine, Photograph by Marcus Nilsson