Is it under warranty?
Now my 360 is way out of its warranty dateline,
I did that ghetto fix where you unplug everything but the power cord, turn it on and wrap like 3 or 4 towels around it then letting it cool down.it worked for about a week before it screwed up again.the fix for 3 lights btw.
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Only a complete idiot would try that, not only would this void any warrantys it would also screw up anything else that isn't already wrong with your Xbox.
For example, the whole ring red means your A/V cords are not plugged in.
The electrical cords? I suppose that could be the problem, since after I played my PS2 (I am out of date with these things -_-' ) Then the Xbox failed. About 4 hours before I used the PS2, it worked fine.
I no longer had a warranty, the thing was going to hell anyways and if I'm going to have to spend more money to get it fixed then to just by a new one why just just try it?