Summarize:

When using a clothes dryer to dry your blanket, keep the heat setting between low and medium. Higher heats might shrink the blanket, or cause synthetic materials like polyester to scorch. If you're drying a down or wool blanket, set the dryer to tumble.  Because it uses no heat, tumble drying takes longer and should only be used if you're worried about damaging a natural fabric. Once again, cotton and synthetics are resilient fabrics, which make them totally dryer-approved (just watch out for high heat on synthetics, as they're prone to burning after a while). Once again, make sure the blanket is distributed evenly in the dryer. Let the blanket lie loosely in the barrel, and try not to bunch it up. Clear out the dryer's lint trap before you begin drying. Fluffy items like bedding tend to shed a lot of lint, which can become a fire hazard as it accumulates. If your blanket is of heavy construction or has been washed and dried many times, it should be okay to let it go through a full drying cycle at low heat. Dry delicate or loosely-woven blankets in short bursts and keep an eye on the blanket's material as it dries. Set the dryer's timer for the desired time, or else monitor the blanket throughout the drying process.  Tumble drying a delicate blanket might take hours. Reset the dryer at the end of a tumble cycle and repeat until the blanket is no longer damp. Overdrying can cause shrinkage or damage. Choose the appropriate time for the blanket you're drying and give it a feel from time to time when machine drying for longer periods. Take the blanket out of the dryer while it is still slightly damp. In most cases, it's preferable to allow blankets to finish air drying—this will help instill a fresh fluffiness in the blanket as the remaining moisture dissipates and spare you the grief of dealing with shrinking, scorching, stretching and static. Smooth the blanket out by hand, then either hang it from a clothesline or drape it over something broad and flat. Let the blanket hang until it's completely dry.  A drying rack or ironing board can be useful for draping a drying blanket if space for a clothesline is unavailable to you. Turn the blanket over periodically to expose both sides to direct air flow.
Set the dryer to a low heat setting. Load the blanket into the dryer. Allow the blanket time to dry. Remove and hang the blanket.