To make the fritters: Combine dry ingredients in a bowl and mix. Add bananas, peanut butter, milk, egg and whisk until consistency is such that it can be balled up in a spoon. In a medium sauce pan, heat peanut oil to 375F. Using a teaspoon, delicately spoon the peanut-butter-banana batter into the oil, a few balls at a time and deep fry until they fluff up and become crispy and golden brown, about 5 minutes. Strain on wire rack.
To make the chocolate sauce: In a pot, bring a cup of water to a simmer. Add a large metal bowl over top of the pot. In the metal bowl, add the chocolate and whipping cream then whisk until it melts together.
Generously drizzle chocolate sauce over fritters and serve.