Put the new hose on, cleaned up the old caliper, pushed the piston out and cleaned that as well. Its the second day now and all seems as if my red hot rotors are gone. Today will be a longer drive so I'll push her a bit hard through the trip to completely confirm the issue was solved. I'm also considering getting the caliper rebuild kits, the rubber on the one I cleaned up looked fine, however, I suppose the rubber inside could swell and also cause unwanted tightness between the caliper wall and the piston. Thanks so very much guys!