If your amp does everything right except for overheating is most likely because of installation/operation error, said that if you continue using it like that it will fail without a doubt, common causes of overheating include:
- bad grounding / wiring
- low impedance loading
- low input voltage
- clipping
- subsonic filter not properly set
- poor ventilation, sometimes you can install fans if the amp needs to be in a poorly ventilated location
Also is very possible that if those issues are not corrected a new amp will also overheat, so fix or have someone fix the issues and if the system is not playing loud enough then yes get a better amp, more subs or whatever.
Since you have a single 1/0 wire it could source up to a 2K or so amp, if you get an amp with multiple 1/0 inputs you will probably need to upgrade your full electrical system too.