For salted burnt honey sauce: Place honey in a medium saucepan over high heat and cook for 2-3 minutes or until dark golden brown. Add sweetened condensed milk and cream (be careful, as it may bubble up and spit), whisking well, and bring to the boil. Reduce heat to medium and cook, whisking constantly, for 6-8 minutes or until thickened. Add sea salt flakes and whisk to combine. Store leftover sauce in refrigerator for 2 weeks - warm and whisk well before serving.
For French toast: Place pecans, ½ tablespoon brown sugar and ¼ teaspoon cinnamon in a small food processor and pulse until pecans are chopped to between coarsely-finely ground. Alternatively, chop the pecans with a knife, then place in a bowl and stir in the sugar and cinnamon. Set aside.
In a bowl, whisk together milk, rum, yolks, the remaining 1 ½ tablespoons brown sugar, 1 tablespoon butter, vanilla, the remaining ¼ teaspoon cinnamon, nutmeg and salt until well blended. Transfer mixture to a shallow dish, such as a pie dish.
Soak bread slices in the milk mixture for about 20 seconds per side. Place slices in a single layer on a baking sheet until ready to cook.
Melt ½ tablespoon of the extra butter in a 12-inch frying pan over medium-low heat. Place 2 slices of the soaked bread in the hot pan and cook until golden brown, about 4 minutes. Flip the bread over and cook until golden brown, about another 4 minutes. Remove from the pan and set aside (place on a baking sheet in a 110C oven to keep warm, optional). Give the bottom of the pan a quick wipe out with a kitchen towel and repeat the cooking process with the another ½ tablespoon of butter and 2 slices of bread.
Give the pan another wipe out with the towel, and melt the last ½ tablespoon butter in the pan. Toss in the chopped pecan mixture and toast until lightly golden. Remove from the pan.
Sprinkle ½-1 tablespoon of the toasted pecans on top of each slice of warm toast. Place 2 slices of toast on 2 serving plates. Top with slices of banana, a scoop of vanilla ice cream, and a good drizzle of salted burnt honey sauce (warm the sauce before drizzling if you have time). If any leftover toasted pecans, feel free to sprinkle them on top as well. Serve immediately.