Try using another xbox profile. That works for people as well. You won't be able to play online, and all your achievements will be for that other profile, but it's a way to get past the main menu at least.
If that works and you're able to start a game, try jumping in split-screen with you main xbox profile. Then you can add some tokens to your neglected badass ranks.
Put in another game and see if it freezes after an hour. I thought it was the game on mine as well for a while, but it was actually my Xbox's disk drive finally dying (9 years old). Are you playing on the original white Xbox 360 or the newer Xbox Slim's? If it's old and dying, you can either get it fixed or buy another Xbox 360.