In a large pan add a few tablespoons of avocado oil and heat over medium-high heat. Add in the steak and cook for a few minutes until the steak is browned. Add in the cayenne pepper, onion powder, Worcestershire sauce, minced garlic, and salt and pepper. Once the steak is browned add in 3/4 cup of water and cover, turning heat to low but keep it simmering. Simmer the steak until most of the water is evaporated this will help the steak tenderize. Once steak is cooked remove from the pan and set aside.
Now it is time to sauté the veggies and cook them down. In the same pan add a little bit more oil and add the onions and bell peppers on low-medium heat. Cook until the onions and bell peppers are getting soft. Sprinkle 1 tsp of sugar to help the caramelization. Season with salt and pepper and continue to cook until the veggies are super soft and caramelized. This could take a little bit since we are cooking low and slow, we don't want to burn the vegetables!
While the veggies are caramelizing, prep the cheese wiz. In a small pot add in the can of evaporated milk. Cook over medium heat. Sprinkle in the mustard powder, sugar, garlic powder, and salt and whisk into the evaporated milk. Once the milk starts lightly simmering, add in the sliced cheese 2 pieces at a time whisking constantly. Don't let the milk boil, just keep it at a nice simmer the whole time. Whisk in all of the cheese until a smooth cheese whiz consistency is reached. This step is optional, but I added in a 1/4 cup of diced jarred jalapenos to add a kick of spice.
Once the veggies are at your preferred doneness, add the steak back in and cook everything for a few minutes until the steak is warmed back up and all of the veggies are mixed into the beef.
Toast your hoagie rolls in a pan or in the oven, however you like! To assemble, take a roll and add the beef and pepper mixture, don't be shy! Drizzle the cheese whiz all over the steak, again don't be shy. Serve immediately while piping hot and enjoy!