The head gaskets are out, this I know cause the oil looks milky.
My head gaskets are out,how long do I have before any real problems happen? on 1996 Dodge Ram 1500
well, could be a day, or a year. but i would get it fixed asap because if too much coolant get in the oil pan, it will wash the berrings out and that will cost you a full rebuild.
I would not drive far at all, the gasket may suddenly now fail causing damage to the cylinder walls, it could hydraulic lock the engine and "bend" a connecting rod, or it may cause over heating to the point where the heads get damaged. Replace the head gaskets and cure what caused the head gaskets to fail in the first place.