sounds like your timing is off dude, give that a check and reset your valves again. If its getting that hot you are gonna ruin the head or the piston or both real quick so get it taken care of for sure. And i agree it sounds like its running lean but that wont make it glow red, shouldnt be that hot ever. If the timing is off its getting fuel at the wrong time so yeah it would be leaned out, but i sounds like a timing issue to me.
"The Cowboy"
'96 built to the hilt warrior
cardomain.com/id/glass_cow