A few weeks ago, the dryer stopped getting hot (clothes come out wet and cold.)

I've checked the following with an Ohm meter:
Thermostat AP3131941 - Has continuity
Heating Element AP3094254 - Has continuity
Dryer Cycling Thermostat AP3131939 - Inner terminals no continuity; outter terminals has continuity (according to another post, this is normal)
Thermal Cut-Off for Dryer Heating Element - No continuity

I can't seem to find a post that specifies if the Thermal Cut-Off is supposed to have continuity or not. I'm guessing it is supposed to have continuity, and my guess is that if it does not, the heating element will not get hot.

Please let me know if I'm on the right track.

I replaced both the hi-limit thermostat and the cut-off thermostat. Started the dryer for testing and still no hot air. Checked continuity again on all parts, and the cut-off thermostat again didn't have continuity.

What can cause this? Since everything else checks out why would this keep blowing? Secondly, can I by-pass the cut-off thermostat? I know its probably there for safety reasons, and I know i probably shouldn't, but can it be done and can it be operational for some time?

This is a cheap dryer and if I have to replace it I will, but with the holidays coming up, I'd rather have it usable for a couple more months before having to replace it.

Any help will be appreciated.

I would also check the heating element for resistance. Should be approximately 8 to 11 ohms.

Does sound like a grounded element.

As Gene said always disconnect either both or at minimum one of the wires from any device you are measuring for resistance or continuity otherwise you may be reading an alternate/parallel path.