In a large pan, drizzle the vegetable oil over medium heat. Add the hot dog slices and cook, stirring often, until golden. Remove the hot dogs to a plate and set aside.
Add the onion to the pan and cook, stirring occasionally, until softened.
Add the garlic and cook until just fragrant, 30 seconds to 1 minute.
Crumble in the ground beef/pork and cook, breaking up the pieces with a wooden spoon, until browned.
Stir in the brown sugar, salt, and pepper, followed by the tomato paste. Cook for a couple of minutes, stirring, to heat through and blend.
Pour in the banana ketchup and crushed tomatoes, stirring to combine. Reduce heat to a simmer and cook, stirring occasionally, for 15 minutes.
Stir the hot dogs back in the sauce to heat through.
While the meat sauce is simmering, bring a large pot of salted water to a boil.
Add the spaghetti to the water and cook until al dente, just tender. Drain and divide among individual serving bowls.
Season the meat sauce to taste and divide over the bowls of spaghetti.
Top with shredded cheese and serve immediately.