Attached is the wiring diagram in case you do not have it.

First I would check the power.
The heating element requires the full 240 volts.

Try flipping the breaker off/on slowly a couple times. Sometimes you can loose half the line without actually tripping the breaker.
Check the voltage at the plug
L1 to L2 should be 240 volts
L1 to Neutral and L2 to Neutral, both should be 120 volts.
If OK
Unplug the unit and check the wires at the terminal strip in the machine to make sure none are loose or burned out
If OK
Check the power at the terminal strip.
Do this with the heater off and on.
[COLOR="Red"]Be careful as 240 volts is lethal !!![/COLOR]

Next I would check the wires at the timer (Timer Switch 2).

Then the red wires at the motor's centrifugal switch.

Set the unit to timed dry with heat.
Unplug it.
Attach one meter lead to L1 of the line cord and leave it there.
Set the meter to it's most sensitive resistance scale.
Now work your way back through the heater circuit until you find the open.