Heat a non-stick skillet over medium heat. Cook and stir hot dog pieces until lightly browned, about 4 minutes. Stir in baked beans and bring to a low simmer; cook about 10 minutes.
Place peas in small saucepan over medium heat; cook until heated through.
Cook rice according to package directions. Stir in peas and Cheddar cheese.
Spoon rice mixture into four serving bowls. Spoon hot dogs and beans mixture over the rice. Top with additional shredded Cheddar cheese, if desired.
