What caused this???

[jott_06]

Ok i know this is about my car but a chevy's a chevy. But i decided to take my car to the drag races yesterday. It has a healthy 355 in it but nothing extreme. I raced it all day saturday with no problems and this morning i was getting ready to do time trials and i decided to check the oil and it looked like thousands of micro bubbles on my dipstick. I thought they were metal shavings though so i had another guy look at it and he said it was too fine for him to tell if it was metal or air bubbles. So i drove it home about 75 miles being easy on it and when i was almost home my buddy that followed me pulled up behind me and said it was smoking from underneath so i thought i probably hurt the motor. I kept driving though so i could get it home and when i popped the hood the intake and head on the drivers side were coated in oil so i figured my vavle cover gasket blew out causing all the oil to leak and thats where the smoke came from. I checked the oil again and it looked pretty clean with only 4 or 5 of the bubbles. So i am confused about what could have caused these bubbles or whatever they are. Also i heard before if you dont run a pcv valve it can blow gaskets. Well i dont run a pcv valve and i blew a gasket could the pcv valve also be the culprit for the oil problems?