I am having the exact same problem. I have had problems once again with my xbox thinking that cd's are dvd's and my disc tray will not open. So we took a great air capturer, saran wrap. We then put tin foil after all the air vents (especially the one in the back). It will show the 2 rings because of overheating, so I sat by my computer doing something else while constantly turning the xbox on after every time it turned off. I have 1 sheet of saran wrap, tin foil covering the system, 3 plastic bags, and a huge blanket.

Ivv gone on for 2 hours now and when i took it out it felt like I had taken a pan out of the oven. I smelt some bad burning electronic too. Turned this baby on, perfectly fine. Congrats microsoft, its fireproof..... :

Dangit i want this RROD!