You Don't. Get a Grill.
Seriously, just... don't microwave it. If you absolutely *must* engage in this culinary crime, wrap it in a damp paper towel, nuke it for 30 seconds, and pray to the gods of processed meat that you don't end up with a rubbery, flavorless tube of sadness. But, consider a grill, or even a pan. You, and the hot dog, deserve better.