I guess it was bound to happen sooner or later. This is the second time that I've had to ship my 360 off to get repaired. The last time this happened was about three years ago, and even back then I didn't get a red ring of death since the hardware was so broken it couldn't even produce one. So this is technically my first red ring of death.
It happened while I was playing Halo: Reach, when all of a sudden the screen turned pink, literally. I turned off the console and removed the game, then I turned the console back on without any game in it to see if I had encountered a glitch or if there was something wrong with my 360. Sure enough it appeared in all its red glory.
One other thing I noticed was that when I was checking the game to see if there was something wrong with it before turning my 360 back on again, there's this gray tinted colored blotch or stain on the back of the disk. I don't know if red rings of death can damage games, or it was just manufactured this way. If anyone has any ideas or answers, you're welcome to share them.