Preheat the oven to 350 degrees F. Spray a 9x13-inch DEEP casserole dish or metal pan with nonstick spray.
In a large bowl, whisk together the barbecue sauce, ketchup, water, mustard, vinegar, garlic powder and cayenne pepper. Stir in the sliced hot dogs, all of the beans and tomatoes.
Transfer the mixture to the prepared pan, and place the pan on a rimmed baking sheet. Arrange the bacon pieces in a single layer on top of the beans.
Bake until the beans are bubbling and the bacon is rendered, about 1½ hours.