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We present integral field, far-infrared (FIR) spectroscopy of Mrk 54, a local Lyman Continuum Emitter (LCE), obtained with FIFI-LS on the Stratospheric Observatory for Infrared Astronomy. This is only the second time, after Haro 11, that [C II] 158 $\mu$m and [O III] 88 $\mu$m spectroscopy of the known LCEs have been obtained. We find that Mrk 54 has a strong [C II] emission that accounts for $\sim1$% of the total FIR luminosity, whereas it has only moderate [O III] emission, resulting in the low [O III]/[C II] luminosity ratio of $0.22\pm0.06$. In order to investigate whether [O III]/[C II] is a useful tracer of $f_{\rm esc}$ (LyC escape fraction), we examine the correlations of [O III]/[C II] and (i) the optical line ratio of $\rm O_{32} \equiv$ [O III] 5007 \AA/[O II] 3727 \AA, (ii) specific star formation rate, (iii) [O III] 88 $\mu$m/[O I] 63 $\mu$m ratio, (iv) gas phase metallicity, and (v) dust temperature based on a combined sample of Mrk 54 and the literature data from the Herschel Dwarf Galaxy Survey and the LITTLE THINGS Survey. We find that galaxies with high [O III]/[C II] luminosity ratios could be the result of high ionization (traced by $\rm O_{32}$), bursty star formation, high ionized-to-neutral gas volume filling factors (traced by [O III] 88 $\mu$m/[O I] 63 $\mu$m), and low gas-phase metallicities, which is in agreement with theoretical predictions. We present an empirical relation between the [O III]/[C II] ratio and $f_{\rm esc}$ based on the combination of the [O III]/[C II] and $\rm O_{32}$ correlation, and the known relation between $\rm O_{32}$ and $f_{\rm esc}$. The relation implies that high-redshift galaxies with high [O III]/[C II] ratios revealed by ALMA may have $f_{\rm esc}\gtrsim0.1$, significantly contributing to the cosmic reionization., Comment: 14 pages, 5 figures, Accepted for publication in ApJ