Here are your parts. They are for a SQ1, I could not find info on 5Q1.
Replacement parts for WHIRLPOOL RED4340SQ1 29" Electric Dryer | AppliancePartsPros.com

Here is your wiring diagram
http://www.servicematters.com/d...0Sheet%20-%208576793.pdf

Sounds like you have a grounded element, the heating coil has sagged or broken and is touching the case/frame. Often you can see this by inspecting the heater assembly.

Best way is to check it with a meter.
Unplug the unit.
Unplug both wires from the heating coil, should be around 10 ohms.
Measure from each coil connector to the case/frame, both should be infinite ohms.

If the internal lamp was working, is it still working?
If not you may have lost half the line and the 120 side that runs the motor is missing. Best to check the power at the plug to make sure you have
L1 to L2 should be 240 volts
L1 to Neutral and L2 to Neutral, both should be 120 volts.
If OK
Unplug the unit and make sure that all the wires at the units terminal strip are OK. Not a bad idea to check for power here.

The most likely cause would be the thermal fuse Item 18 in Section 3.
It does sound like you do not have a meter so you could check it by doing the following.
Unplug the unit.
Disconnect the wires at the heating coil, take note where they attach.
Tape them up so thay cannot short to the frame or each other.
Remove the wires from the thermal fuse and short them together.
Tape them up so they cannot short to the frame.
Plug the unit in and give it a try,

While yo have it opened up check all rollers, glides, belt etc. for wear,
You might as well do an overhaul on it, also if it needs lots of parts it may make more sense to replace it.

If you do decide to repair it, give the interior a good cleaning including the blower wheel.
Also a good time to clean/check your vent system.