transmission 98 blazer vent tube

I have a 98 blazer 180000 miles. There is a small tube with what appears to be a vent for transmission attached to trans dipstick. There seems to be fluid coming out of vent causing a lot of smoke under hood, when it drips on exhaust and after doing this once or twice I have noticed leaking around pan in several places.

Help

Thanks in advance

If you follow that vent tube back to its origin I think you will find it is actually attached to the transfer case. Is it possible the rear seal in the transmission is leaking badly enough that it is overfilling the transfercase? May want to pull the fill plug on the transfer case and see if fluid comes pouring out.

It is transmission breathing tube you are right. I had same problems
http://www.automotiveforums.com/vbulletin/showthread.php?t=907826
It also pours over if too much oil in transmission.. hope this helps.