You can right click on your module in the server view and click restart - which will restart the module without doing a redeploy.
Hot-code replacement is available for method body changes if you start the server in debug mode.
If you want "full" hot-code replacement your best option/bet is to use something like JRebel (you can get that by opening JBoss Central and click on software/update page and choose JRebel)
Maven plugin doesn't help to do this.
Note, Maven plugin (more specifically m2e+m2e-wtp) does help if you have a maven multi project and want it to be configured for easy deployment from Eclipse.