Some on would have to LOOK at the engine, in person ... You cannot diagnose that over the text box, All you can do is speculate the many things that could cause it, and yes a ring too tight can make for overheat and runaway
So can a muffler, also so can a crank spinning in a bearing race without the bearing moving, this is common on ST engines
Air leaks can cause this, and a 40 plus year old NEW engine can have locked pins, locked bearings, dried leaking gaskets etc...
Randy