The magnum heads are notorious for cracking between the valves, just an FYI. There is not a fluid chamber there (supposedly) but if the crack grows than it can get to where oil or coolant (or both) can get in. I doubt that's your issue, but I know it does cause problems right before it gets bad (but you'd know).

 

Question, would the PCV valve be a cause of my problem? I'm working on the truck today, just playing around checking EVERYTHING, and the PCV valve sounds like it's lose inside. I thought the plunger inside was on a spring? Is it suppose to be lose? By 'lose' I mean I tip it over and the plunger falls down, tip it back right side up, it falls closed

 

That's normal, it operates based on pressure and vacuum in the crankcase. It should be loose and rattle, it isn't then it is gummed up and needs to be replaced. It is basically a one way check valve.