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ASUS G752VL Troubleshooting, Looking for advice on repair

Level 7
Hey All!
My ASUS G752VL just died on me. I booted it up one morning, it was fine.. turned around and it was dead. Looking for advice on repair.

Troubleshooting thus far:
Q) Are there any signs of life
A) Nope... no charging lights, no indicators, no nothing
Q) Is the power supply working?
A) Voltage is correct (used DMM), I assume current is too but didn't check.
Q) Even though I just turned it on, might it somehow be overheated?
A) Holy Crap!!! :eek: A localized part is boiling.. and smells slightly burnt.

I opened up the hard drive cover and touched the exposed part of the motherboard and got a burn on my finger where I touched it. After further investigation, the chip that is super-heating is show below. It continued to burn until the battery had completely drained. Because of the model, the battery is not removable so I couldn't get to it to pull it out. If I plug in the power cable the chip heats to the point of finger-melting in about 10 seconds. Also, I cannot find any other part of the motherboard that is overheating/looks damaged.
Here's the image of the inside of an ASUS G752VL:
Q) Is it under warranty?
A) Nope.. the 1-yr warranty expired 2 months ago :mad:

Some sort of manufacturing defect that led the short-circuiting of the chip, potentially also other parts of the MB given the amount of time it remained overheated while the battery drained.

Assumed course of action:
Replacing the motherboard is 80% the cost of the computer so that's out of the question. I would like to try to replace the chip depending on what it is.

Here's what I need to know:
1) What is that chip that is super-heating?
2) It seems to be glued on. Is it replaceable?
3) Has anyone seen this before?

Admittedly, I was an idiot for not purchasing the extended warranty. In my defense, I always do and thought I did for this sucker. Regardless, I didn't do anything a-typical when it died and it is extremely disheartening to have lost my baby after only 14 months of use. Contacted ASUS and they said I'm on my own. I get that ASUS is no longer responsible with the vanishing warranty and all, but I wish they would extend a helping hand given the nature of the issue. It would go a long way in restoring my faith in their products.

Any help is appreciated!