You might do some digging on CPF or BLF. They might be able to point you to a component that might be replaceable it you have the soldering skills.
I played around with a 4xAA COB recently. Some companies don't suggest even using NiMH because even though the voltage is less, the current (and often power) is more, especially over time. With my 4xAA Craftsman light, I measured:
Alkaline: 2 amps @ 1.4vx4 = 9.12 watts
NiMH: 4.2 amps @1.31vx4 = 22.008 watts
Li 18650: 6.5 amps @ 4.08v = 26.52 watts
The Li rechargeable got bright and hot VERY fast. The NiMH's took more time to get hot, and the Alkaline's seemed to keep a comfortable temp for the longest. Also be careful with Li AA disposables in some of these lights, as they offer more voltage than Alkaline and NiMH, but still yield a decent current over time, IIRC. You might want to double check if there is any warning in the manual.
I tend to use Li AA's in lights I store for emergencies, since the voltage would probably be slightly drained off anyway and I don't have to worry about Alkaline leakage. Note above that even the NiMH rechargeables at lower voltage yielded more power than the Alkalines because of the amperage difference.
Also, remember that the 3.7v on the Li rechargeables is the nominal voltage, not the actual voltage (especially fresh off of a charger). You could have been feeding 4.2 Volts into your light that's spec'ed for 3v.