Heat a griddle or a large saute pan over medium-high heat. Coat with olive oil. Open and toast Ball Park hot dog buns and set aside. Add the onions and bell pepper and cook, stirring, until caramelized, about 8 minutes. Add the garlic, salt, and pepper, then push the mixture off to one side of the griddle. Add the meat to the hot part of the griddle.
Cook, stirring and moving the meat until it breaks down slightly and is cooked medium rare, about 2 minutes. Mix the meat and the caramelized onions and bell pepper together. Divide into 2 portions, and top both portions with the cheese. Place in a Ball Park hot dog bun and top with marinara sauce or ketchup if desired.