My xbox 360 just started with 3 red rings and is

The Red Ring of Death. While there are fixes all over the net on using things like a blow dryer to fix it, I suggest you turn it in for warranty work. Microsoft in the past year extended its regular warranty to 3 years, so you should be covered still.

If this is a first-gen 360, and it is the standard model (not elite) then your problem is probably the CPU overheating. it was an all too common problem with the first gens. try whatever you can think of to cool it down (you could consider buying an intercooler from an electronics store). ive heard of people putting icepacks and damp towels on it to help. no matter what you do though, it wont last long... kiss your baby goodbye :(

You can repair it yourself but thoes repair
don't last long weeks- mounths.

Or you can have Microsoft fix it. Naaa

Or you can have a shop with a re-flow
machine repair it . And if done properly
that will fix it .And it should stay fixed

Just make sure they have a re-flow
machine before you have them
do the work and if they offer a 30 day warranty
try another shop.

Rob