Boil a large pot of water for macaroni. Salt water and under cook macaroni, cook about 7 minutes until just under al dente in doneness.
Preheat broiler and set rack 12 inches from heat.
While pasta works, heat a large deep nonstick skillet over medium-high heat. Add 1 tablespoon extra-virgin olive oil, 1 turn of the pan, then add hot dogs and brown on both sides, 4 minutes total. Remove the dogs with a slotted spoon to a paper towel lined plate. Add another tablespoon extra-virgin olive oil, 1 turn of the pan, and the butter. When butter melts, cook onions 4 to 5 minutes, then add flour and cook another minute. Add beer and cook off completely, 1 minute. Whisk in milk and bring to a bubble, then season the sauce with salt and pepper and stir in the mustard and ketchup. Lower heat and add 2 cups of the cheese. Stir to melt, 1 minute. Adjust mustard, ketchup, and salt and pepper, to your taste.
Drain pasta well. Combine pasta and hot dogs with sauce and coat evenly then pour into large casserole and top with remaining cheese. Melt and brown cheese under broiler, 2 minutes. Serve.