Gas in oil pan and white smoke plus gas from the exhaust

My 92 Toyota Camry 3.0L EFI DOHC 128,000 started dying after running for about 2 minutes. It would start back up, but the engine would race and hold at 2000rpms. White smoke mixed with fuel came pouring out of the exhaust. If you tried to punch it, it would flood out and die. It had started getting terrible gas mileage. Filling up every two days, while only driving maybe 25 miles total. I checked the oil and found gas. I drained the oil and half of it was gas. Changed the oil and filter.
After this it would turn over but not start. I changed the fuel pump and filter, checked the plugs and wires. It started again, but with the same symptoms. There isn't any gas in the oil for now.
I have looked for cracked or torn vacuum and fuel lines. I unplugged the EGR valve to see if it made a difference. I checked electrical connections and found one of the oxygen sensors had a broken wire. I repaired it and for about 3 to 4 minutes the car ran fine. No high rpms or white smoke. I turned it off to make sure all tools and items were out of the way before I took it for a test drive. When I cranked it back up there was the high rpms and white smoke and fuel coming out of the exhaust. I had a tester put on it and it showed normal, no error codes. No check engine light at any point. I am unsure where to go from here. I was planning on giving the car to my son for college, but not until this is resolved. Any ideas?
Thanks,

Tim