The sequence of functions converges to a discontinuous function. For any $x$ such that $|\cos{x}| < 1$, the sequence tends to $0$, and otherwise (because of the $2$ in the power), it tends to $1$.
Hence, the limit function is simply
$$\lim_{n \to \infty} (\cos{x})^{2n} = \left\\{\begin{array}{lr} 1 &\text{ if } x = n\pi \\\ 0 & \text{ else} \end{array}\right.$$
where $n \in \mathbb{Z}$. This is continuous except at the points $n\pi$.