75k miles engine toast?

[Mhannink]

tell me what you guys think. i got a call from my buddy this past weekend when he went to reno about his 04.5 dodge pucking oil out of the breather tube. talked to him a while and he had been pulling highway 80 at a pretty good clip and stopped at the top of donner for a bathroom break comes out and there is a puddle of oil under his truck. like i said it is coming from the breather tube for the whole trip about 4 or 500 miles round trip the truck lost a gallon of oil. while he was up there he started the truck one morning and it was missing and had white smoke till it warmed up. well when he got back and i looked at it we saw a constant heavy stream of white smoke out of the breather tube. there is no oil in the water or water in the oil. just the heavy white smoke at idle out of the breather tube. now my guess judging by the miss when cold and the white smoke both when running cold and regardless of temp out of the breather tube is bad rings. does this sound accurate? like the title of the post says its only got 75,000 miles on it and is completly bone stock. only mod is exhaust no engine modifications. truck is an 04.5 6spd 4dr long box 4x4. what do ya'll think