Hmm.. That is tough..
I don't think I would stuff a kong with hot dogs or anything, such a large amount of either hot dogs or bacon would yield salt and fat contents I would be concerned about giving all at once..
I just suggested it as training treats. Sometimes when the distractions are just too much but I need Kaiser to pay attention anyway hot dogs will do it where we normally use kibble..
So it sounds like food won't work out.. If he really does thrive on physical attention you'll have to find a way to make that work for you. You might try clicker training.. You can use praise and petting as rewards since that's what he wants the most. It's much healthier anyway. Kaiser and I have to do his training before his meals - that's how he eats one of his meals each day so that he's not getting too much food overall..
Anyhow, if you would like a more in-depth explanation on how you would condition him to it let me know and i'll explain it. If you happen to already know, there's no point in putting it all down right now 
Clickers are inexpensive and available at almost any pet store. You could also use anything else that makes that noise as long as you always use the same thing (a loud ball point pen, for example). Basically he learns that every time he hears a click, something great follows (for Kaiser it's a treat, for him it will be "good boy.." and a very quick pet or scratch). I would make sure to say it calmly and quietly though, as he sounds excitable and you don't want to have to spend 10 minutes calming him down every time he gets something right 
Once he knows that clicks are good, you can use it whenever people are over. At first you'll have to be very quick and you won't be able to pay attention to the guests at the same time so if you can have someone else greet the guests and show them in while you have the dog (on his leash) with you a step away from the crowd. Stand on the leash and allow just enough slack that he can get his front feet a couple of inches off the floor. When he tries to jump, ignore him. But the very second his feet touch the ground, click and praise. He might get excited all over again (or still be excited from the first time) but that's alright. Stay on the leash, and remember to click and praise as soon as those front feet hit the floor again. Remember to remain calm so you don't add too much to his excitement, and always click when his feet touch the floor whether it seems like it was an accident or not.. He'll start to realize that he gets attention and clicks when he's on the floor. When the jumping slows down (this could take days, weeks, or months depending on the dog. Don't rush it though, take tiny baby steps the whole way or you'll wind up atthe beginning again) start to wait a second or two before clicking. Then gradually move to 5 seconds, then 10, then 20, then 30, etc. When you've got it up to about two minutes where he will stay on the floor without a click, start back at 1 second clicks without stepping on the leash and move your way back up to two minutes again.
It will take time and even more importantly, maturity.. So don't be surprised if you don't see results immediately. It will mean he'll be on a leash with you any time there are strange people around for months but be consistent and it will get through.. It's up to you if you want to try it, but I hope it helps a little anyway 