If you bubbled the paint on the rims of your trailer you have a brake problem instead of a bearing problem IMHO.
I've seen bearings welded to the spindle not get that hot. Sounds like your brakes are energising on the one side as you are going down the road. The question is how is it doing this? Only you or a good mechanic or you can figure this out.
BTW I would never do Dexter's procedure to set a wheel bearing. This coming from someone who has done a lot of them and never had a failure.
Good luck and let us know if you find something.
