Set a large skillet over medium-high heat along with the 1 tablespoon oil or butter, once hot, add in the hot dogs and cook until charred and crispy all around, about 3 to 5 minutes. Transfer to a plate and let cool. Cut each hot dog in half, lengthwise and then insert a wooden skewer into each.
To make the batter, in a large bowl, whisk together the flour, cornmeal, sugar, baking powder, baking soda, salt, pepper, garlic powder, chili powder, and red pepper flakes until evenly combined. Make a well in the center and then add in the buttermilk, eggs, and melted butter. Whisk until just combined.
Preheat a square Belgian waffle iron on high and grease with cooking spray. Spread a very thin layer of batter onto the bottom of the hot waffle iron. Lay two pieces of hot dog on a stick on each waffle square. Then top each with a bit more batter. Make sure not to over fill the waffle iron. Close tightly as best you can and allow the waffles to cook. Transfer to a wire rack and continue with the remaining batter and hot dogs. Once cool enough to handle, cut each waffle in half so you end up with 2 corn dogs. Serve with mustard or ketchup for dipping to top them with chili, cheese, sour cream, scallions, and cilantro. Enjoy!