Okay, so my 360 Elite will sometimes boot up and last about 2 minutes before it gives me 2 red lights, the code that I get is "0132" however i searched the forums which didnt work out too good for me plus i googles that error code and all the sites are saying its an unknown code...

Is it really an unknown code? If so this really REALLY sucks. I have another unmodded 360 but I want this one to work too

afaik mate, 2 red lights is overheating. So you're either gonna have to make sure your consoles properly ventilated (blabla) or xclamp it, reapplying the thermal paste.