Assume that we calculate $i\Sigma(\not{p})$ in Eq. (62.28) in Srednicki's book on QFT. If $p$ is the momentum of an external massive particle of mass $m$, then the equation $$\not{p}=-m$$ holds. In addition, the diagram depicting this $i\Sigma(\not{p})$ is going to be connected to whatever diagram depicts the interaction of the particle of momentum $p$. Thus, if $\mathcal{A}(p)$ is the matrix representing that interaction, then the amplitude for the diagram connecting the self-energy correction to that interaction will be given by $$i\mathcal{M}=\mathcal{A}(p) (-i)\frac{(-\not{p}+m)}{p^2+m^2}i\Sigma(\not{p})u(p).$$ This is because an internal line will connect the self-energy part of the diagram with the interaction part of the diagram.
My question is:
Isn't this infinite because of the internal line connecting the self-energy part of the diagram to the remaining diagram for the interaction being on-shell (i.e. $p^2=-m^2$ on the denominator)? I know that $i\Sigma(-m)=0$, but how is this connected to the fact that the contribution of the self-energy diagram, along with the counter-term diagram should altogether vanish? Even if it is zero, then aren't we multiplying zero with infinity?