If you interrupt the boot process with a serial console cable connected, you can upload a new OS image via xmodem. I use a Linux system with minicom for this, but Windows Hyperterminal should work as well.
Don't be surprised if you upload a new image and the same problem persists. Images are checked when they are loaded and a corrupt image should be rejected before it is loaded into flash memory; therefore you probably have faulty flash memory and will end up needing to replace the switch.