I need to show that:
The conjugacy class of $a$ contains $a$ (and no other element) iff $a$ is in the center.
Here's how I attempted the proof:
$(\Rightarrow )$ Suppose $\text{cl}(a)=\{ a\}$. Then for every $x\in G$, $xax^{-1}=a$. Thus, $a$ is the center of $G$.
$(\Leftarrow )$ Assume $a$ is the center of G. Then $a\in \text{cl}(a)$ since $xax^{-1}=a$ for every $x \in G$. Let $b$ be any element in $\text{cl}(a)$. Then $b=yay^{-1}$ for some $y\in G$. But $b=yay^{-1} \Rightarrow by=ya=ay$. Thus, by the cancellation property, $b=a$. Hence, $\text{cl}(a)=\{ a\}$.
Is my proof correct? Do I need to fix it somewhere?
Your proof is correct but you have some unnecessary steps at the end. You don't have to prove $b=a$ the way you did: you already know that $xax^{-1}=a$ for all $x$, and so in particular you can take $x=y$ to conclude immediately $b=yay^{-1}=a$.