Active time: 55 minutes
Preheat oven to 325 degrees. Find a 3-quart baking dish to bake your pudding in.
Combine flour, 1 1/4 cup of the sugar (you could even go down to 1 cup here) and salt in a large saucepan. Stir until mixture is combined and then turn heat to medium. Slowly stir in milk and keep stirring until smooth. Stirring constantly, cook over medium heat for about 10 minutes or until thick and bubbly.
Place the 2 whole eggs in a separate bowl and whisk to combine. SLOWLY add hot milk mixture, stirring constantly as you do this. Once you've incorporated the hot milk mixture into the eggs, return the mixture back to original pan and stir in the 1/2 cup peanut butter. Cook over medium heat for 2 minutes, until thick and bubbly. Set aside.
Place egg whites in a large bowl and beat at high speed with a hand mixture or stand mixer. Once egg whites are foamy, start to add the remaining 3/4 cup of sugar to the egg whites, one tablespoon at a time. Beat until stiff peaks form.
Arrange 25-30 vanilla wafers in the bottom of a 3-quart baking dish. Place half of bananas over wafers and then pour half of the peanut butter custard over the banana. Repeat with 25-30 more wafers, banana and custard. Top with meringue and arrange remaining vanilla wafers around the edge of the meringue.
Bake at 325 for 20-25 minutes or until lightly browned. Serve warm or chilled.