Place franks into boiling water; cover and boil 1 minute. Turn off heat and let stand 5 to 7 minutes. (OR, Grill franks over medium heat 6 to 9 minutes, turning frequently.)
Spread mustard onto buns. Place frank and 1 to 2 slices bacon in each bun; sprinkle top with cheese.
Place franks under broiler for about 1 minute to melt cheese. Serve topped with lettuce, tomatoes and jalapeno slices.