Go to plan B.
I noticed last week that there was a bright red spot on my bottom element of the oven. I knew it was the kiss of death for the element, but i prayed that it would last a little bit longer. It died tonight, just after I finished baking some pumpkin bread with cream cheese filling. However, I was in the process of getting ready to bake a pork tenderloin and some roasted veggies. I ended up cutting the tenderloin in to slices and breading it with ranch dressing and shake'n'bake, the veggies I steamed.
Now, I'm going to have to buy a new element... I hope it doesn't cost too much!