Definitely don't buy another of those Dunnett hoops. The second one I got under warranty seemed as bad, if not worse, than the first one. I just didn't keep it long enough for it to start splitting.Ha - so interestingly, this has been my only snare for ages. I got it when I was playing actively in a relatively quiet anti-folk band, just before I pretty much stopped playing. Since I've started playing again, mostly in pub-cover bands, so generally louder, both these things are happening to me - the metal separates from the wooden hoop, and the snares just loosen!
Annoying, as I really like the sound of it, but it's a real liability to gig with. Those hoops are still sold by Dunnett for $150 which seems insane. I'm tempted to just get some triple-flange/die-cast hoops and some thread-lock, but more tempted by a new snare...
I'd just sell it and move on, if I were you. Too many great snares out there to deal with a dud. But if you must keep it, while I'm partial to diecast hoops, I don't think it'd be worth the expense to get into one for that snare.
I've been tempted by these stick saver style hoops from Drum Factory Direct, but I don't have need for new hoops on any of my drums. It could work well on yours if you decide to keep it.