Will this fix my overheating (2 Red Rings) Xbox 360?

My console used to overheat every half hour (2 Red Rings, NOT 3), then after a time it would after the startup/welcome screen (about 30 seconds in). But now it overheats after 5-10 seconds before even showing ANYTHING on screen. Is this repair, combined with a compressed air clean-out, likely to solved it?

http://youtu.be/lyyps115Fk0

In this video he tapes small pieces of eraser to the motherboard.

PLEASE HELP!