That was really great! When it comes to the early animation exaggerations, Disney's trick was mainly to use it for either comedic effect, or to draw your attention to a specific element. You honored that pretty well.
Only improvement I could see would be having the chef move differently instead of bobbing up and down with the hot dog grill. It makes the two seem connected, as if he was wearing the wagon. TINY nitpick, though. Five stars from me, this is basically perfect.