HELP PLEASE.........IF ANYONE CAN...HAVE TRIED ALMOST EVERYTHING...............,......

Well people im back on here with a real tricky problem.
My Phone:

Motorola Milestone XT720
came with 2.1 on it and is still the OS.

I think i just got shitty luck but here it goes. I have won this phone threw the company WIND in a draw and i actually liked it after i added a bunch of apps to make it what i wanted it is well was Rooted and Overclocked to 1.2GHz. Now i havent had any real problems with it but for some stupid reason it likes to shut the data off on its own and i have no setting for this what i mean is its got a mind of its own well anyways the only way to get the data to come back is either turn the phone off then back on, or, go into the settings and turn ON airplane mode then turn it off again. Now this would turn my data connection back on. About a week or so ago i turned it off then turned it back on only to get the boot screen, the very 1st screen where the Motorola symbol is and now its stuck there it wont go any farther. Now, i can get into i guess u'd call it "Safe-Mode" or the "Bios" which comes up with only 4 options: 1.) Reboot Phone
2.) Apply SD-Card Load-Boot (something like that) 3.) Factory Reset, Wipe phone memory/apps etc.
4.) Wipe Cache

Now i have tried them all and get the same response same screen and it still will not boot up or start. Now the only method i havent been able to try becuz i can NOT find the proper file is put the 2.1 Android OS on a SD-Card and then go to the boot thing screen, becuz when i went to it after i did the reset thats all that its saying is "File E:/ unable to read or load File incorrect".
So what im thinking is that if i find the proper Android 2.1 file i will be able to boot the phone backup off of the SD-Card . But all the files i have found are loading it from the phone working NOT just booting it off the SD-Card

And heres where it kinda sucks even more the phone i won on the 25th of February.2011. so it would be in warranty you would think but due to it being won not purchased they (WIND) wont warranty it and without a proof of purchase its kinda difficult to get Motorola to warranty it.

So if anyone has any thoughts, good ideas or suggestions PLEASE, PLEASE, PLEASE feel free to let me no i really dont want the phone to be nothing more then a paper weight.

THANKS-YOU VERY MUCH

A.J. Paolucci..