This was bought new? It shouldn't be doing that if it's a new system.
Where do you have it located? It's best to have the system sitting in the open on a flat surface like a small table. This allows for proper air flow to avoid overheating.
I would suggest either take it back where you bought it and exchange for another unit or call Sony's tech support if brand new. There is a 90 day warranty from Sony on new PS2s so they would likely exchange it free of charge for another system. They'll even send the postage-paid box to send it to them.