In a mixing bowl, combine flour, cornmeal, sugar, baking powder, salt and chili powder.
In another bowl, beat the eggs with milk and the 1/4 cup of oil. Stir egg and milk mixture into dry ingredients and whisk together until batter is smooth.
Heat oil in the deep fryer to 360 degrees.
Insert a wooden skewer or popsicle stick into each hot dog, to make a "handle" for the hot dogs. Holding the stick or skewer, dip each hot dog into batter, turning to coat thoroughly and evenly. Fry corn dogs in 2 or 3 batches, for about 3 to 5 minutes, or until golden brown. Drain on paper towels or heavy brown paper.
Cooks Tip: Pour the batter into a tall glass, skewer the hot dogs and dip!