Problem with brake heating up

Hi guys, have a problem with my V70 P2 2001 2.4i. I was driving home, a

13 mile journey when towards the end, after a fast bit, I flt the car start to quiver, as if one rear wheel had thrown its weights, it became hard to maintain speed on a light throttle. I was sure I'd had a puncture so I pulled in once I found a safe place. I got out the car and walked round it to check things. The rear nearside wheel well was pumping out smoke, pad material stinking and the disk was glowing cherry red. I let the disk cool befoe I moved off again, did the final two miles to the house at @30 and disk was dull red when I stopped. Only thing different was that I had to pull the handbrake lever up a lot more for it to be effective Left it overnight, but had to go to work next morning at 7 AM. I drove like Miss Daisy for the 13 miles to work, set the handbrake which went up about 10 clicks instead of the usual 5 clicks, I checked the wheel which was cold to the touch and no cherry red glow. I have had to do the same journey for the last 4 days, with no time for taking off the wheel for a look, with no overheating issues. I haven't readjusted the handbrake or done anything at all. My main question is, is the problem coming from the handbrake shoes heating up the brakes, transferring heat to the disk and making the caliper stick? It hasn't stuck since and the brake pedal is firm with no travel to suggest a sticking caliper. I have ordered a new caliper anyway, on the assumption that if it gets warm, it shouldn't jam, so it is probably on the way out. Could a too tightly adjusted shoe make the whole thing heat up enough to make the caliper stick? I can't take a look at the state of things for another 4 days, but it is all running OK at the moment.
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Tunku
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