I wouldnt recommend doing that- the magnet will get weaker and weaker, causing the motor to pull more and more current- you will kill the esc and batts before the motor in all likely hood. When you run it next time, if its getting that hot in a very short space of time, just stop using it; you now have a really cool fridge magnet.
used to run the 7xl and it would run in the 180 on a cold night....Nothings gonna change though....its just a hot motor.
Are you running a motor clamp? if not the endbell will pop off probably...but otherwise it will jsut continue to get crappier and eventually the magnets will seperate and become a $70 paper weight