Shifter cable replacement*pics of damage* new problem?

Went to take my wife on her first ride in the demon and I only had 2 gears out of three. Got home crawled underneath the car and tracked my problem to a melted shifter cable, plastic shielding is melted away and I can see the cable, looks frayed too but I can't get a good look between the headers to see it. It's a reverse valve body 727 with a b&m shifter. I have never had to replace one before or install a shifter for that matter, is it pretty straight forward?

I'm doing it right this time and installing a heat jacket around the cable.