Preheat the oven to 35o degrees. In a large bowl combine the turkey, Parmesan, bread crumbs, egg onion powder, Italian seasoning and ½ teaspoon salt and mix thoroughly. Shape the meat mixture into 2 inch balls and place on a greased baking sheet. Bake for 15-20 minutes or until meatballs reach 170 degrees.
Meanwhile, in a skillet over medium high heat, heat a teaspoon of olive oil and add the onion, bell pepper and garlic to the pan. Cook until softened and stir in the balsamic vinegar and tomato sauce. Bring to a simmer and reduce heat to low. Stir in the basil.
Toast the hot dog buns in the hot oven until just starting to brown and place in a baking dish. Fill each bun with turkey meatballs, top with sauce and sprinkle each sandwich with shredded cheese. Turn the broiler on and place the dish of sandwiches 6 inches from the heat element. Broil just until cheese is melted and starts to brown, 2-3 minutes Serve and enjoy!