Dell Xps - L501X freezes while gaming.

Hi, 

I have been using my dell xps L501X for the past 3.5 years without any problems. A few days back i started getting some issues. Whenever i start a game, after a few minutes the screen starts to flicker in a particular color and then the laptop completely freezes and i have to manually shut it down with the power button. 

 I updated all the dell drivers, nvidia and intel drivers etc. but still no help. I tried checking for the software conflict, still not resolved. The laptops starts to heat a lot during gaming, which was usual but never a problem.

Sometimes it gives an error that the video driver stopped working and has recovered a problem.

I am really in dire need of assistance as to how to resolve this problem. I play games like COD, Dota2 which aren't that graphics intensive but still are giving me these issues.

Please help me!! 

Specifics:
OS Name Microsoft Windows 7 Home Premium
Version 6.1.7601 Service Pack 1 Build 7601
OS Manufacturer Microsoft Corporation
System Manufacturer Dell Inc.
System Model XPS L501X
System Type x64-based PC
Processor Intel(R) Core(TM) i5 CPU M 460 @ 2.53GHz, 2534 Mhz, 2 Core(s), 4 Logical Processor(s)
BIOS Version/Date Dell Inc. A08, 26-07-2011
SMBIOS Version 2.6
Hardware Abstraction Layer Version = "6.1.7601.17514"
Installed Physical Memory (RAM) 6.00 GB
Total Physical Memory 5.74 GB
Available Physical Memory 3.22 GB
Total Virtual Memory 11.5 GB
Available Virtual Memory 8.54 GB
Page File Space 5.74 GB
Page File C:\pagefile.sys