Ummm "cooked it"? And "scale and rust"? With a high temp light that came on for 3 to 5 minutes (there's no guage on the 3038e, just a warning light) when I reduced the throttle and disengaged the PTO. The oil is still gold! If the additives "dropped out" wouldn't there be some indication? Separation on the stick, odd odor, something? Also, the tractor has 210 hours on it, 100 of which were put on in the last 2 months by me. It seems unlikely that it has that much scale and rust in the radiator. No decrease in the coolant volume since the top off, and no oil in it. Also, when coolant is heated, does it stay bright green, or does darken or change color?
Also, as for stopping immediately, do you really want to just shut down an over-hot engine? Wouldn't it do more damage that way? I was always taught to run them if you can until they were back in proper temp range before shutting down, once you've fixed the problem that's causing the overheat. Which is correct?