Carefully break 4 toothpicks in half. Wrap each hot dog in a strip of bacon and secure with a toothpick half at each end. Set aside.
Bring a large skillet or grill pan sprayed with nonstick spray to medium-high heat on the stove.
Add onion, bell pepper, and jalapeno pepper and cook until softened, about 4 minutes. Remove from the skillet/pan and set aside.
Remove the skillet/pan from heat, re-spray, and bring to medium heat. Add bacon-wrapped hot dogs and cook until bacon is crisp and fully cooked and hot dogs are heated through, about 6 minutes, rotating the hot dogs several times to evenly cook the bacon. Set aside.
Evenly spread mayo inside the buns. Remove toothpicks from the hot dogs and place a bacon-wrapped dog in each bun. Top each dog with a teaspoon of mustard.
Evenly distribute veggie mixture among the dogs. Eat up!
PER SERVING (1/4th of recipe, 1 fully dressed hot dog): 186 calories, 4.5g fat, 850mg sodium, 28g carbs, 5.5g fiber, 6g sugars, 13g protein