I agree with torkum. The white smoke which is most likely steam and the smell of antifreeze are big hints. The orange you are seeing is probably rust from the exhaust system getting washed out with the excess moisture. Also, your observation that you have a milky residue on the underside of your oil cap means you are mixing oil and coolant. Another way to confirm that is to take a drop of oil from your dipstick after you have the engine fully warmed up and touch it to a hot exhaust manifold close to the head. If the oil sizzles its got water in it, if it just smokes ... no water. Check to see if you have a waxy buildup on the underside of your radiator cap also, that will tell you if youve got oil in your cooling system which might be an issue with an automatic trans. My guess is cracked head or blown head gasket.
Last edited by incogmeo; 03-08-2009 at 10:17 PM.