In a large bowl, whisk together the baking mix, cornmeal, garlic powder, and cayenne. In another bowl, whisk together the egg and milk. Pour the wet ingredients into the dry ingredients and whisk until blended.
In a small bowl, stir together the mustard and preserves.
When you are ready to fry, insert a chopstick into the end of each hot dog and push about halfway into the meat. (Reserve 2 hot dogs for the Online Round 2 Recipe Cheesy Hot Dog Scramble.) Dust each hotdog with flour, dip into the batter, and carefully lower it into the hot oil. Fry 2 or 3 at a time until golden brown, 3 to 5 minutes. Drain on brown paper. Brush with the sweet mustard sauce and serve warm.