Just Wrap it in 3 towels for 30 minutes while its on, then let it cool off ( while its still on). Then turn it off for like 5 min, then it should work. My xbox had red rings and thats how i fixed it. Mine has been working for 1 year since that.
If it is covered , put it in the microwave burn it out and send it off and they will have to send you a new one , it will be unfixable and no red ring signs will be detected.