For the chocolate sauce: Heat the cream in a saucepan over medium heat until simmering but not boiling. Remove from the heat and stir in the chocolate chips until smooth and combined.
For the grilled bananas: Prepare a grill for medium-high heat.
Cut each banana in half lengthwise, leaving the peel on. In a small bowl, whisk together the melted butter and honey. Brush the cut side of each banana half with the honey-butter mixture. Place the bananas cut-side down on the grill and cook until grill marks appear and the bananas have softened, about 2 minutes.
To assemble the banana splits: Remove 2 banana halves gently from their peels and place in each serving dish. Top with some scoops of ice cream, the warm chocolate sauce, some whipped cream, walnuts and cherries. Serve immediately.