Any idea how to face and defeat this monstrosity?
I always try to trap those for use against sieges, and such.
Cavern - gate - door - corridor - door - gate - Fortress
Once the beast gets into the corridor you lock both doors and close the gates. The doors are there to slow down the beast a bit so the gates have time to close.
I think equipping your dwarves with shields of fire safe materials such as steel should help them. Not sure about the effects of armor with respect to fire. You could also fight fire with a firing squad I suppose. Do tell us how it went down though!
FBs that shoot webs are highly dangerous. They can disable and kill multiple squads.
I tend to try trapping those or just hiding from them, as well as ones that shoot poison dust or whatever that will AOE suffocate whole squads