The check gauges light comes on any time your temperature or charging gauges are reading outside their normal range. Due to your temp gauge going into the red you more than likely have a cooling system issue, check the normal things:
Full of Coolant? Radiator and overflow tank. Don't forget to check the coolant condition.
Any Leaks? Hoses, Radiator, Radiator Cap, Gaskets on engine, Heater Core.
Air Flow thru radiator? With the engine idling hold your hand/shop rag/sheet of paper on the outside of the grille, airflow should be noticeable.
Clutch Fan operation? With the engine warmed up and Not Running spin the fan if it freewheels the clutch fan is shot.
Thermostat operation? Full of coolant radiator cap on start the engine and allow it to warm up upper radiator hose should be very warm.
That will get you started.