A B737-300 SHUTS DOWN AN ENG AFTER TKOF BECAUSE IT OVERHEATS. FLC DECLARES AN EMER AND RETURN LAND.

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WE WERE FLYING A NORMAL FLT FROM IAH TO PHL. ONLY ABNORMAL THING WAS THAT APU WAS WEAK AND WE WERE ABLE TO ONLY GET 19.9% N2 ROTATION WHEN STARTING THE #2 ENG (20% REQUIRED). ON TKOF ON RWY 14L AT IAH WE WEIGHED APPROX 120000 LBS AND HAD 98 PAX ON BOARD WITH APPROX 27000 LBS OF FUEL. ON TKOF ROLL WE HAD THE BRIEFEST 'MASTER CAUTION' FLICKER (ABOUT 1/4 OF A SECOND). THIS HAPPENED SEVERAL TIMES (BEYOND 80K). I ASKED THE FO 'WHAT IS THAT?' HE SAID HE DIDN'T KNOW. ABOUT THE SAME TIME THE GEAR WAS COMING UP -- TO 400 FT AGL (SOMEWHERE IN THERE) THE MASTER CAUTION LIGHT ILLUMINATED ALONG WITH THE 'OVERHEAT/DET' LIGHT ON THE 'RECALL LIGHT PANEL.' THIS DREW OUR ATTN TO THE FIRE CTL PANEL WHICH HAD THE R ENG (ENG #2 OVERHEAT) LIGHT ILLUMINATED. I CONTINUED TO FLY THE ACFT AND TOLD THE FO TO GET OUT HIS 'QRH.' I DECLARED AN EMER. WE WENT THROUGH THE PROCS (CORRECTLY FOR THE MOST PART). THE FO INITIALLY DIDN'T GO TO THE IMMEDIATE ACTION ITEMS UNTIL I TOLD HIM TO -- HE WENT TO THE 'OVERHEAT PROC' DEEPER IN THE BOOK; WHICH SHOULD COME SECOND. I ELECTED TO KEEP 1 DEG FLAPS/SLATS AS IT WAS VFR AND I KNEW WE WOULD BE SOON MANEUVERING FOR A LNDG (WE WERE ALREADY ON DOWNWIND TO RWY 26). WE TOLD THEM WE WANTED TO RETURN AND TO HAVE THE 'EQUIP' STANDING BY. DURING THIS VERY BUSY TIME; WE NOTIFIED THE FLT ATTENDANTS; THE PAX AND THE COMPANY. I ASKED FOR DELAYING VECTORS AS I DIDN'T WANT TO GET INTO THE SIT OF AN UNSTABILIZED APCH AND A SINGLE ENG GAR! THE OVERHEAT LIGHT WENT OUT AFTER WE SHOT BOTH FIRE BOTTLES ON THE PROC. WE FOLLOWED THE STANDARD SINGLE ENG ILS PROFILE AND LANDED ON RWY 26 AT AN ESTIMATED 120000 LBS AFTER AN ESTIMATED SINGLE ENG FLT TIME OF 17 MINS. UPON TOUCHDOWN; THE SINK RATE WAS VERY LOW; THE LNDG SMOOTH; AND ON CTRLINE AND WE TURNED OFF THE RWY WITH SEVERAL THOUSAND FT TO SPARE. I DID NOT HAVE THE FLT ATTENDANT PUT THE PAX IN THE BRACE POS AS I DID NOT WANT TO ALARM THEM UNNECESSARILY AS THINGS WERE UNDER CTL. I MADE THE NECESSARY LOGBOOK WRITE-UPS; INCLUDING ONE FOR OVERWT LNDG.