Today, my PS3 got the Yellow Light of Death for the second time in the last two years. Last time I just sent it in to Sony, but it's a huge hassle for me to do that again, so are there any ways I can fix it at home?

I had a friend that fixed it himself but it involved buying a new optical drive and sodering inside the unit which seems super daunting. My advice is to either send it in or just purchase a new one.

Some YLODs can be fixed by refloating some of the components on the board. There are instructions out there that involve using a heat gun or powerful hairdryer into the vents to melt the solder, theoretically reestablishing a better connection. I got a YLOD and was able to fix mine this way (80gb version), the only downside that I have to turn it on manually using the touch power button rather than the controller, but other than that its worked again for over a year.

Unless you REALLY know what you're doing, it's most likely worth just sending it in to Sony. It sucks because they are likely to charge you another $129 or whatever since repaired/refurbished units only come with a 90-day warranty and it sounds like your PS3 is past that. It may be worth considering getting a new model altogether for $250. It seems wrong to give them money to repair or replace the same PS3 twice.

send it to sony, or you could pay a place to fix it. there are a few computer places that do it, if you look around.

fat or slim?

Follow this:
    

Thanks to this tutorial, I was able to fix mine. Haven't had a single problem since then, and that was over two years ago. Personally, I would never, ever send a busted console in for "repair," regardless as to whether or not the warranty had expired. All they do is send you someone else's busted-ass console. Screw that.