Is it a 'when it's hot' thing, or an 'always' problem? Hot is usually related to condenser, coil or failing plastic bits, but will often start as random misfiring rather than total loss of both sparks. Total loss, but intermittently and from cold, is a bit rarer I'd say, but can't rule anything out on those grounds alone.
I really would check the resistance of the HT winding from the slipring brass segment to the mag body, and I'd also physically check the earth brush, especially if you have a fibre pinion drive, which won't provide a return path for the HT current if the brush isn't doing its job. (If your contact breaker has an auxiliary earth brush on its rear face, an earth problem is less likely though.)
No continuity across the coil says one of three things is happening:
bad ££ = a break in the winding (unlikely);
semi-bad ££ = poor connection of HT coil to slipring (not very likely);
hardly any ££ = intermittent or no earth.
You might also take your meter to the cb end, and with the cb still attached measure the resistance across the points when they are open - when you should see half an ohm, which is the resistance of the low tension winding.. Shut, you should ideally see zero. Many meters aren't too good at very low levels though, so the difference shown might be a bit hit and miss.
If you take the cb unit off, and measure across the points, open, there should be no continuity. If there is, then look at the thin insulator plate and the tophat tubular insulator that are under the fixed point brass block (or bits of bent tin on steel cb units). If yours is steel, be 100% sure the opening point spring absolutely can't touch the camring as I mentioned before - it's live on them and a kiss is fatal to the spark. Closed, across the points, cb unit off the mag, you want your zero ohms again, or near as.
If the resistance readings and the earth brush are all in order, then there's not a lot more you can do than you already have without taking the mag off again.
If you had it off again, then you could certainly TRY a condenser on the points if you could get at and snip the low tension live wire at the condenser end to disable the one that's in there. Nothing much to lose anyway! But having got that far, you'd probably want to be sure all elements were still good and to spec, which means coil testing hot and cold and ditto for the plastic parts.
The Lucas workshop instructions for various mags provide decent info on how to test a coil (same for all pretty much) if you could be bothered to create the test rig, but otherwise it's easier to ask someone with the kit already to hand.