AC wiring 101- 110V - Black is the hot lead, white is neutral, green is ground; 220V - black is leg 1, red is leg 2, white is neutral, green is ground.
Light sockets, center contact to hot lead, case lead to neutral. Both/all heating elements connect with the same side connected to hot. A ground wire can be added from the press frame to the round lug on a 3 prong plug to help prevent shocks. When a short occurs a circuit breaker/fuse will trip/blow. I would replace the power cord also, cloth covered wire has not been used for a half century or so.
I do not know if there are switches to turn on the heating elements or if the lights are to be in series or parallel with the heating elements.