I have a 2002 dodge ram 1500 4.7 and I have noticed there is a Milky color on the top of my oil cap and Inside the tube that you fill your oil there is no Milky color on the dip stick does this mean I have a blown head gasket

 

No. Normal.

 

^^^ What he said. Every time I change my oil I take a rag and remove it.

 

This is not normal. I would as soon as possible,
1) get an oil sample and have it aynalized and checked
for coolant contamination.
2) get a compression test done.

Sounds like head gaskets. Is your coolant level low? Or do you frequently have to top it up?

 

Wrong.

 

Let me rephrase this. It isn't "normal" but for the 4.7L, it's normal. I have 178K on my '05 Ram and I have had that goop since Day One. Dodge says it's normal due to condensation. I have never had that crap build up on any other engine but I've seen it in every 4.7L I've ever seen. The one good thing I'll say is that it is always under the oil filler cap and never in the oil.

 

Same with mine and every other 4.7 I've ran across.

 

It's oil mixed with condensation. The 4.7 oil cap is screwed into a long spout which sits high up from the engine. The temp difference causes condensation mixed with oil vapor. The oil down below remains hot and is fine.