I did some quick online research and learned that the problem was most likely due to a faulty 220V power connection. The appliance was still getting 110v power because the clock/timer display and LED lights were still working on the oven control unit.
I spent about 30 minutes checking and tightening all of the connections and afterwards the 220v power supply was restored and the range started working properly again.
I took pictures of the whole procedure and created a quick guide to help out anyone else who may be experiencing the same problem with their range.
Here's the photo album - http://www.paulstravelpictures.com/Kenmore-Electric-Range-Burners-Oven-220V-Repair-Guide
Don't forget to unplug everything and turn off the power before you begin! Good luck.
Cheers, Paul Michaels Ft. Lauderdale, FL