You can either use the \cfrac command to have all fractions in display style, or \tfrac for the underbraced partial derivative. I don't like such a discrepancy between these two sizes in the same formula, so I suggest using the medium size commands from nccmath (~80% of \displaystyle). I give an example of both, with some spacing improvements, and in the second example, the use ofthe esdiff package to simpify typing of partial derivatives:
\documentclass{article}
\usepackage{amsmath, nccmath}
\usepackage{esdiff}
\usepackage{bigstrut}
\begin{document}
\begin{fleqn}
\begin{align*}
\frac{1}{v_G} = \frac{1}{v_{ph}} \cdot \left(\frac{1 - \cfrac{\lambda}{n\bigstrut[b]} \cfrac{\partial n}{\partial \lambda}}{1 - \biggl(\cfrac{\lambda}{n} \biggr)^{\mkern-5mu 2} \smash[b]{\underbrace{\cfrac{\partial^2 n}{\partial \lambda^2}}_{=0}}} \right) = \frac{1}{v_{ph}} \cdot \left( 1 - \frac{\lambda}{n} \frac{\partial n}{\partial \lambda} \right)
\end{align*}
\bigskip
\begin{align*}
\frac{1}{v_G} = \frac{1}{v_{ph}} \cdot \left(\frac{1 - \medmath{\frac{\lambda}{n\bigstrut[b]} \diffp{n}{\lambda}}}{1 - \medmath{ \left(\frac{\lambda}{n} \right)^{\mkern-5mu 2} \smash[b]{\underbrace{\diffp[2]{n}{\lambda}}_{=0}}}} \right) = \frac{1}{v_{ph}} \cdot \left( 1 - \frac{\lambda}{n} \diffp{n}{\lambda} \right)
\end{align*}
\end{fleqn}
\end{document}

\underbraceneeds a fix. – egreg Nov 04 '18 at 14:31