Preheat oven to 350 degrees. Line a muffin tin with liners and set aside.
In a small bowl, whisk together the flour, baking powder, baking soda, salt, cinnamon and nutmeg. Set aside.
Separate eggs and place yolks in a small bowl and whites in the bottom of a stand mixer fitted with the whisk attachment.
Turn mixer on to MED speed and whip egg whites until white and stiff peaks form. Scoop out, place in a bowl and set aside.
Fit mixer with the paddle attachment and cream together butter and sugars until butter becomes lighter in color.
Add in egg yolks, vanilla, and mashed bananas and mix to combine.
Mix in flour mixture until just combined.
Slowly mix in one third of the whipped egg whites.
By hand, gently and carefully fold in the remaining whipped egg whites.
If using chocolate chips, stir them in.
Scoop batter into prepared muffin liners, filling each cup about two thirds of the way.
Bake for 15-20 minutes, until a toothpick inserted in the center comes out clean.
Cool in pan for 3 minutes, then remove to a wire rack to cool completely.
MAKE THE FROSTING:
In the bowl of a stand mixer, add the butter and beat until light in color.
Add in softened cream cheese and beat until combined.
Add in peanut butter and beat until combined.
Add in honey, cinnamon, vanilla, and heavy cream, beat until combined.
Add half of the powdered sugar and beat until combined.
Repeat with remaining powdered sugar.
If necessary, add additional heavy cream until desired frosting consistency.
Turn mixer to MED speed and beat until light and fluffy, about 2-3 minutes.
Scoop frosting into piping bag fitted with a decorating tip and frost as desired.