Oil light keeps coming on.

I have a 1992 tercel. A couple of days ago my oil light came on. Then my car started running pretty rough. And after accelerated for a while my car didn't seem to have as much power. Ever since I bought the car it has gone through a lot of oil. And it does shoot out blue smoke when I start my car sometimes. I was reading a thread by somelse on this website and he basically described my problem. A couple people replied and mentioned it probably has something to do with the valve stem seals. I am not very handy with cars and my car is pretty old, so I am reluctant to fix it up. If it is my valve stem seals, how long would I be able to drive my car without getting it fixed before it breaks down. Any input would be greatly appreciated. Thanks.

hey,
if you keep an eye on the oil level, should not break down, check it once a week or so, tercel usually burn oil and leak too. not sure of mileage, but i would not junk it over burning some oil
just an opinion, also a general checkover at a garage/dealer might answer your question too
dave