I dropped my Iphone into a cooler full of water and when I try to turn it on it has the battery icon but it says its dead and I need to plug it in. The battery icon is also very dim. I've had this phone for less than a month. Do you think if I go into the apple store they will replace my phone for free or at least get a new phone for a discount?
Turn it off and put it in a ziploc bag with some white rice for 3 or 4 days. The rice will draw the moisture out and it may allow you to revive the phone.
Heating and chilling the phone is only going to make the problem worse. Heat will cause condensation on the circuitry and chilling would just give you cold water inside the phone. Neither thing will draw moisture out of the phone.