Add hot dogs to a large skillet and add 1 inch of water to the bottom. Cover with a tight-fitting lid. Cook over high heat, until the hot dogs are hot. (Add more water if you run out of steam before the hot dogs are fully heated.)
Fill a large pot with a few cups of water and bring to a boil. Carefully set a cooling rack over the top of a pot, lay hot dog buns on top, and steam until they are warmed through.
Place hot dog in the bun, and top with mustard, onions, chili, and cheddar cheese.