Wait until spring or summer to cut the dracaena back. The plant is growing rapidly during this time, and will quickly produce new sprouts after you cut the old ones back.
Select the sprout you want to cut back. Do not cut back the main cane. Select one of the heads that has sprouted out of the top of the cane and has produced a dark green stem and foliage.
Cut the selected sprout back to 3 to 4 inches above the cane. The old sprout will begin regrowing in six weeks.
Rotate by cutting back the next sprout the next year, and the third the year after, if your dracaena has that many heads.