Hoping to get some light shed on this. When you are a salary employee, and work way more than 40 hours in one week, is there any law governing all the extra time you put in to get any kind of comp time from the employer?

Assuming that by salaried you mean exempt, no. Comp time is legal for exempt employees (it is not legal for non-exempt employees) but it is not required. It is up to the employer whether to offer it or not.