Step 1: Preheat your oven to 350°F (175°C). Grease and flour two 9-inch round cake pans, or line with parchment paper.
Step 2: In a medium bowl, whisk together the all-purpose flour, baking soda, salt, cinnamon, nutmeg, and cloves. Set aside.
Step 3: In a large bowl, cream together the softened butter and granulated sugar with an electric mixer until light and fluffy.
Step 4: Beat in the eggs one at a time, mixing well after each addition. Stir in the vanilla extract and mashed bananas.
Step 5: Gradually add the dry ingredients to the wet ingredients, alternating with the buttermilk, beginning and ending with the dry ingredients. Mix until just combined, being careful not to overmix.
Step 6: Gently fold in the toasted chopped walnuts.
Step 7: Divide the batter evenly between the prepared cake pans. Bake for 35-40 minutes, or until a wooden skewer inserted into the center comes out clean.
Step 8: Let the cakes cool in the pans for 10 minutes before inverting them onto a wire rack to cool completely.
Step 9: While the cakes cool, prepare the cream cheese frosting: In a large bowl, beat the softened cream cheese and softened butter together with an electric mixer until smooth and creamy.
Step 10: Gradually add the sifted powdered sugar, 1 cup at a time, mixing until smooth after each addition. Beat in the vanilla extract.
Step 11: Add milk or heavy cream, 1 tablespoon at a time, until the frosting reaches your desired consistency.
Step 12: Once the cakes are completely cool, frost the layers and sides of the cake. Garnish with additional chopped walnuts, if desired. Slice and serve!