Oil burning, knocking, doesnt start

Alright,
I just bought a 1988 Chevy Camaro V6 and it has many problems.
When I first bought it I was told that it was in alright shape except for that it burned oil a little and was rough when idling.
Now..I drove it about 70 miles and now it burns oil like crazy and the oil goes everywhere....all over the engine. When I stop at a light or stop sign, I can visably see all the smoke billowing out of the engine. I have to keep 4 bottles of oil in the car and replace the oil every 100 miles. Also, It knocks a bit. It stalls when I slow down at a stop sign or change gears. In Neutral, the RPMs were in the 1000s. Then I put it into gear and it shot down to about 400RPM and died. EVERY TIME! I have to push on the gas very hard to keep the car going. Just two days ago it stopped starting. When I try to start the car, it starts for less than a second and dies. When I start the ignition, most of the oil drips out of the car and onto the floor.

WHAT CAN THIS BE?? WHAT PROBLEMS MIGHT I HAVE??

THANKS

check your valve covers and oil pan and see if any oil is leaking from them.
knocking sounds can be associated with many things: lifters, bearings, timing. check your ignition timing, that would not only cause the car to run like shit if it's off, but might be the cause of the sound your hearing.

what does your oil pressure look like when the engine is warmed up?

sounds like your piston rings are gone.

Just found out what is wrong with the car through a garage. The fuel pump is finished, so that's why it isn't starting anymore. The reason it is burning oil and its going all over the engine is becasue the rod bearings are done!! The Rods are puncturing the engine now...So I have to replace the engine!! It's done!
Does anyone know where I can get an engine installed for cheap?? Like right now I was quoted about $40 an hour for labour. This is a lot. I already have the new engine (350) that I want to put into the car. All I need is a garage that will install it for cheap. Location..Around Alfred, NY 14802.

Thanks for your input

40 bucks an hour is CHEAP!!! the shop i worked at charged 82 dollars an hour for all repair work.

time for an overhaul

id recommend doin it yourself if $40 isnt cheap enough. like $200 in engine hoist and stand and all that and thats about all you need. also make sure you have a tranny that can handle that 350. i dont remember what they put on the 88 v6's ( i should my mom has that in her bird) but if i remember it might not be able to handle that power.