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1.
(noun- formal) a man of reduced character; any person, regardless of gender displaying excessive levels of false-confidence and blind aggression;

(noun- formal) hockey player which employs cheap-shots and false-alpha tendencies during play and after the whistle;

(noun- informal) male reproductive organ.

First coined by professional NHL defenseman, Kevin Bieksa of the Vancouver Canucks on December 29, 2011, when he was bet $300 by his teammates that he could not slip the term into a pre-game interview. See example for quote.
"They've got a couple of milk hotdogs on their team {San Jose Sharks}, and... it makes for some fun games, that's for sure."

"You believe how that milk hotdog tried to give me the ol' Perpostrosity in that corner scrum?!"
by stewpotmessiah January 08, 2012