I don' t want to scare you, but you are describing EXACTLY what happened to me when my first short block was replaced. It was the timing chain stretched, and some other ungodly horrors brought on by excessive oil consumption......mine had only 12k at the time...... also happened less than a mile from my home. For the record, the oil light is for pressure, not level......
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P99rs Head Unit--- Amps- 2 Pioneer Prs800d --- Zapco ST1000MX---Zapco ST-4XSQ---- SI BM mk5 Subs---SI TM65v2 Midbass--- SI M3 mids--- SI M25 xbl2 tweeters ----- 2016 MECA street class 3rd place at world finals
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