Is there a mod so you can read your hotmail in your control panel?

Not likely. Microsoft only lets Hotmail users get their email in Outlook/Express because the program has code to display Hotmail ads... and because both are owned by Microsoft.

The best way I can think of to get your Hotmail is to use MSN Messenger (use that feature that makes you appear offline when logged on if you must) and let it tell you when you get new Hotmail, and just jump right to it.