Peel bananas and slice into ¾-1” pieces. Place bananas in a resealable freezer bag; freeze for at least 3 hours or overnight.

Transfer the frozen bananas into a food processor along with the sweetened condensed milk. Pulse repeatedly until creamy. (Note: It might not seem like it’s working at first…keep going! The bananas will indeed transform into a creamy, fluffy ice cream.) Set banana mixture aside.

Place the milk and peanut butter in a medium saucepan. Heat over medium-low, stirring occasionally, until mixture just begins to simmer and peanut butter has melted completely.

While the peanut butter mixture is heating, whisk together the sugar, salt and egg yolks in a medium bowl. Gradually pour the peanut butter mixture into the egg yolks; whisking vigorously the entire time.

Return the mixture to the saucepan and cook over medium-low heat, stirring constantly, until the mixture thickens noticeably and coats a wooden spoon. (~4-6 minutes)

Remove mixture from heat and add the heavy cream; stir until well combined.

Pour/gently press the mixture through a fine-mesh strainer into a clean container. Stir in the vanilla extract and banana mixture from above. Cover with plastic wrap, pressing the plastic directly onto the surface of the mixture, and refrigerate overnight.

Pour the ice cream mixture into an ice cream maker and freeze according to the manufacturer's directions.

{Optional} Drizzle ice cream with caramel sauce before serving.