I have a 1996 ram 1500 4x4 with 196,000 miles on it. It seems to have antifreeze or water in the oil. When it runs it smokes really bad, and smells real sweet. The oil light keeps coming on, and when it is up to temp approx 195 degrees it blows cold. Always seem to have a coolant issue with this motor. I would like to know what you guys or gals think my issue is. Could something be cracked or is it time for a rebuit motor?

Rich

Probably a blown head gasket. Definitely time for a rebuild (or a new truck).

Water in the oil will make it look like foamy cocolate milk.

Oh, and welcome to the forum!

yes, this is it exactly.....think it is blown head gasket ?

Thank You,

Quite possable.
Get an addaptor for the spark plug hole so you can pressureize each cyl individeualy with air.
Remove the radiator cap and watch for bubels.
That should tell you which cyl it is.