Although the semi-colon can be used to string multiple sed commands together, it reduces readability, and the use of the -e gives your code breathing space, and added comprehension. You should use -e.
There are two ways to approach changing the '/' character to '-' using sed. You can escape the '/', or you can use different separators:
Using -e, you would simply append either syntax to your existing sed train.
The above is good if you know that you have just one character that needs transformed. Sed also supports changing a collection of characters to a single character, so by example the following will look for '/' and '*' (Sed reserved, must be escaped) and transform their occurrences to '-' for every processed line.
-e s'/[\/\*]/-/gp'
But as far as I know, Sed will not perform multiple replacements without multiple sequences of s/find/replace/g. The tr(1) utility on the otherhand can do many:many character mappings. Send the output of your existing Sed command sequence (train) into tr to perform multiple replacements:
sed train | tr '/*' '-x'
which would replace every occurrence of '/' with '-', and every occurrence of '*' with 'x' on each processed line. You are not limited to two characters.