Insane heat development with ESP8266
the heat is from the supply lines of board.

it's not the chip itself, as if it gets hot like that the chip should be destroyed.
it seems you have connected 60 LEDs strip to the board and you provide it's supply from the board's supply line. so the lines get hot, and the board gets hot too.
so the heat is not from the chip. its from power supply tracks on the PCB.

use another power source for the LED strip.