So after my last post about the element I swapped out, I finally got to the bottom of it. Dryer ran fine for a wash or two then went lukewarm again, and I was convinced I'd bought a junk part. Turns out I had the two safety parts on the housing crossed, one wire that should've gone to the high-limit was sitting on the thermal fuse terminal instead.
Pulled the back panel off again with the thing unplugged, traced the wires against the diagram inside the console, and there it was. Moved it over, put everything back togehter, and ran three loads back to back. Heat held the whole time, no cutouts, shut-off works normal.
Funny part is it looked right at a glance beacuse both terminals are right next to each other on that housing. If anybody else is redoing one of these, take a phone pic of the original layout before you pull anything, and double check it against the wiring sheet taped inside the machine, not just what looks logical. Saved myself a second parts order anyway.