This has now happened to me several times.
The screen will refuse to turn on (the phone will still be on and the led may be lit depending on messages.) So I'll do a hard restart by holding all the buttons. Upon restarting the phone will stay on the DROID eye logo forever. Attempt to boot into recovery mode will fail with a sad looking android guy showing a red exclamation mark. The phone will sit on this screen for a while and then reboot back into the normal loop.
I was able to get it working before by using fastboot to load the original firmware on the device. This is a major pain in the ass. Why does this keep happening? What's the right way to fix this?