Preheat oven to 350 degrees. Spray (3) 9" cake pans with baking spray and set aside.
In a large mixing bowl, whisk together the flour, baking powder, baking soda, and salt.
In a large bowl, beat butter and sugar until light and fluffy. Beat in the vanilla, sour cream and canola oil until combined.
Beat in eggs one at a time until combined.Add the mashed bananas.
Gradually beat in the dry ingredients a little at a time until combined.
Divide the batter between the 3 cake pans and bake for 25-30 minutes or until a tooth pick inserted in the center comes out clean.
Cool completely.
For the Cinnamon Frosting
In a large bowl beat butter, cinnamon, and vanilla until light and fluff. Add in powdered sugar a little at a time. Stir in whipping cream as needed to reach you desired consistency.
Scoop 1 cup of frosting into a piping bag and set aside.
Building the Cake
Using a cake leveler, cut the domes off the cake.
Place 1 cake layer onto plate and scoop about 1 cup of frosting on top. Smooth evenly. Repeat with remaining 2 layers.
Frost top and sides of cake as well.
Pour the caramel sauce into the squeeze bottle. Pour caramel sauce in drips over the sides of the cake.
Pipe remaining dollops of frosting on the top of the cake using a star tip. Garnish with vanilla wafers.