Got turned onto this at an amazing bar called Bearded Lady across the street from our apartment in Brooklyn. The Toronto is the King of Fernet Cocktails. Variation on a Manhattan.
3 parts Rittenhouse Rye
1 part Fernet Branca
Splash of simple syrup
Several dashes of Angostura Bitters
Orange peel, flamed
Combine Rye, Fernet, simple syrup and a couple dashes of bitters over ice. Let sit. Stir. Strain into cocktail glass add one more dash of bitters. Twist orange peel into glass and rub around rim. Flame orange peel, garnish. Feel the power.