Quick and dirty, not very well tested:
var child_process = require('child_process');
process.on('SIGINT', function() {
console.log('restarting...');
child_process.fork(__filename); // TODO: pass args...
process.exit(0);
});
console.log('Running as %d', process.pid);
setTimeout(function(){}, 1000000); // just some code to keep the process running