Turns out that the International Federation of Competitive Eating has their own sort of challange - they even call it the steeplechase:
Steeplechase/Chowdown Championship
Pork burgers, Beef ribeye sandwiches, Turkey Legs, Grilled Cheese Sandwiches, Cupcakes/Indiana State Fair
August 19, 2006
Bob Shoudt
Steeplechase/Ultimate Eating Tournament
Shrimp, Pralines, Hot Dogs, Nachos, Gelato/Broadway at the Beach
10 minutes/ Apr. 22, 2006
Bob Shoudt
http://www.ifoce.com/records.php
The IFOCE has yet to respond to my inquries regarding the certification of the Mcdonalds Dollar Menu Challange.