HELP!!!! engine lost power and died on highway, new headgasket, now very loud ticking

[new talon owner]

i wasnt paying too much attention to the guage at the time but i dont think it was reading high. i know when i pulled over and noticed the smoke pouring out from under the hood the guage was reading normal. And im not sure if i was clear or what but the oil pressure light comes on just idling now... while im not even driving it and its not about to die. i can let it idle as long as i want but the light is on which makes me not want to run it. it only dies after i try giving it gas or when i do try driving it and cut a corner too hard or come to a stop. It just barely has enough power to hold an idle and i cant even turn the wheels all the way to one side without the drag ofthe power steering killing the engine.

[new talon owner]

ok so i drained the oil and found tons of tiny metal shavings in it. Im pretty sure i have a spun bearing or two and my question now is would a spun bearing affect my vacuum readings as it currently reads between 13 and 14 inches of mercury. I know the spun bearing would explain my lack of power, knocking/ticking noise, and low oil pressure but im curious if this would give me a low oil pressure reading as well. ideas?