You can make a lot more than two trees. Yes you can cut it back to wherever you like and the cut stem will sprout new growth

But you can't use a piece as big as the chopped off top of the tree as a cutting. Cuttings are usually six to eight inches long. You can get dozens from your tree.

So you're saying the part that's in the dirt will keep growing but the piece I take off won't grow if I just put it in dirt? I presume the cuttings are the skinny branches coming off the big trunk? Any special way to cut them (at an angle, tear them off, with scissors)? Do I just plant these cuttings in dirt straight away or do I put them in a glass of water to root? Thanks so much for your help. I obviously can't leave the poor thing where it is and I really know nothing when it comes to this.

I can fill in the blanks later, but your best bet would be to start an air-layer as there is really no limit insofar as how thick the trunk or branch you're layering off can be. The second advantage of layering lies in the fact that you have a sizeable tree once the layer is separated from the main plant, and the third benefit is there is no penalty (no part of the tree dies) if the layer is unsuccessful. Air-layering success, when the tree is properly prepared, can be expected to be very close to 100%.

This is an air layer underway on a hackberry tree. ^^^ Below you'll see the tree after it produced roots at the layer site and was separated from the parent tree, then transplanted.

To establish an air layer, simply remove a ring of bark and all cambial tissues all the way around the trunk/branch and treat the top edge of the layer with rooting hormone.

Then, rig an open-top container top filled with an appropriate grow medium, or use plastic wrap to hold a wad of moist sphagnum moss (not sphagnum peat) surrounding the layer site.

This is the top of a Ficus Microcarpa ^^^ layered to produce a nearly instant bonsai.

Here, ^^^ is a heavy branch with secondary branching, a recently established air-layer off the parent tree.

You can decide where you want to cut the tree back to, which won't be a problem for the tree. Once decided, you can establish one or more air layers at any point distal to (above) where you plan to make the main cut. My suggestion would be to cut the tree back to the first long branch above the cluster of branches near the pot.

We should know where you live to determine when the best time to layer would be, and some discussion about repotting and fertilizing would help ensure many more years of good health.

Al

Tapla - I live in southern Alberta, Canada and the tree has always been an indoor plant. Does time of year matter for an indoor tree?

Does time of year matter for an indoor tree? It does. The best time to layer would be in the month prior to the trees most robust growth. This ensures that the trees energy reserves are at their highest point in the growth cycle, AND, the plant's current ability to create food/energy via photosynthesis is also at peak.

From the plant's perspective, the best time to establish a layer where you live would be in the first weeks of June. You CAN start a layer now if you like, but I would make it somewhere higher on the tree, using your first layer as a way of shortening the tree; or, simply shorten it somewhat and wait until next June to layer, establishing one or several layers which you should be able to separate in August or near July's end. If you have a spot where you can move the plant outdoors during the process, it would increase vitality and speed of the layering significantly.

This link (Long Term Care of Ficus in Containers) should be helpful.

Al