I have a Whirlpool Accudry dryer, model LGQ8000HQ1. Tonight I got home and my wife says the dryer is a lot hotter than normal. Hot to the touch when on Medium setting. Low setting seems fine.

Could it be a bad cycling thermostat or maybe the Electrode Sensor pad inside the drum?

I'm pretty handy, but I've never done any work on this dryer, how hard are these pieces to replace?

Check to see if the lint screen or vent is plugged. Air is pulled through and exhausts outside. If these are plugged, the residual heat builds up and usually the clothes won't dry because the water vapor has no place to vent.

There is good airflow, nothing is plugged.

Anything else I should check before I buy a new cycling thermostat and/or Electrode Sensor pad ?

Cycling Thermostat
Electrode / Sendor Pad

It could be either part. Considering price, wouldn't be $$ to replace both and since you are handy, no cost. Be sure to disconnect the power! Website link ratings show 2 hrs for t'stat but I find that high. Usually takes 20 minutes or so.