Add vegetable oil to a heavy-bottom pot over medium high heat and bring oil to 350 degrees. While oil heats:
Cut hotdogs into thirds and pat dry.
In a medium bowl combine cornmeal, flour, sugar, baking powder, and salt. Set aside.
In another bowl combine eggs, milk, chilis, and cheese.
Add the wet ingredients to the bowl of dry ingredients and stir until well mixed.
In small batches, dip each corn dog bite into the batter. Using a toothpick, move the corndog to the hot oil gently, slide the battered hotdog off of the toothpick and cook until golden brown. About 30 seconds to 1 minute per side.
Remove corn dog bites to a paper towel-lined plate and sprinkle with salt. Serve with yellow mustard for dipping and fresh jalapenos as garnish.