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360s have issues with overheating. if you get the three red rings (out of four), then it has to be repaired. All xboxes are covered for 3 years for free repairs, but he will be without the xbox for a month or so while it is shipping and being repaired.
If your 360 should ever throw up that crimson gang sign of eternal sleep, the red rings of death, you will be very, very angry. But your anger won't stand a chance against the sheer convenience of Microsoft's new online effort at service.xbox.com. That's right, repairing your broken system just got automated. In addition to registering your console, you'll also be able to schedule repairs and keep track of them once you've sent your baby into that long, dark night. Now, how can you still be mad?

This site also gives you a $5 discount for out-of-warranty repairs, a nice perk completely out-shined by the fact that we won't have to wait on hold to deal with Microsoft's crack customer service team.
One other thing to try. When the power flashes during a storm, the power adapter often shuts down (the big box that's part of the power plug). When i boot up my xbox, it will sometimes flash those 3 red lights. When I unplug and replug in the power adapter, it goes away. Something to try before sending it back into microsoft.
 
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