Though DDFR made some good comments, I believe he missed the entire point of the question. This question is not about time dilation or relativity. This question is about changes in fundamental constants. And yes, there are theories that suggest the fundamental constants are changing, although very slowly. These theories are not due to Einstein, and came much later. These are actually more related to the Standard Model. There are a number of such theories, and they all predict one or more of the fundamental constants are slowly varying in time. Though most concern has been focused on small changes in the fine structure constant (alpha), the speed of light could also be changing. There have been a number of experiments testing for such changes, and with each new experiment that has greater accuracy, the failure to see such an effect pushes down the limit at which this drift could be occurring, in the process cutting out a number of theories that made predictions above the new limit.
So, assuming the speed of light is slowly drifting, which it probably isn't, would time also be slowing down? Not in the same way it occurs in relativity. The reason for the drift would not be at all related to time dilation in relativity. In relativity, time dilates, but length also contracts. In relativity, these two things occur to keep c constant, which is exactly not what is occuring in a drift of c. So you should not be thinking about these time drifts and time dilation in the same sense.
But could time be slowing down without length contraction? Well, it seems like you could always cast the problem in that way. But you could also say that length is slowly drifting. Or you could say that the ratio constant between time and space in Lorentzian space/time is changing. Hmmm, I'm even confusing myself. It's a bit complicated. But the point is the speed of light is tied into physics in several ways at a very fundamental level. You can think about it that way if you want to, but you can think about it other ways as well. And I don't see thinking about it in terms of time being very helpful.
As far as your questions about light stopping, that all depends on the theory. Since there are multiple theories, there are multiple behaviors. However, it is disputed as to whether changes in c, or any of the other fundamental constants, would actually be meaningful (in that they would change the way things work). If those who believe it is not meaningful are correct, then you can assume the speed of light can't stop. And that's probably the best guess at this point. At the very least, I would assume it would asymptote to zero, never actually getting there.
The only fundamental constant that everyone agrees could change in a meaningful way is alpha, which is why it is the focus of the most of the efforts looking into changes in constants. And there's no reason as of yet, to believe it actually does change.