BMW Repair: Car will not start, engine cranks, bmw z3

Question
I have a 1997 BMW Z3 that overheated on the highway. The engine shut itself down. The engine cranks but will not start. There is no coolant in the oil, There was coolant coming from there tail pipe when being lifted on the tow truck. When cranking the engine it sounds like there is absolutely no compression in the engine. No visible signs of leakage at the head. Does the computer need to be reset? Check engine light came on right before the engine died. Does this vehicle have a safety device that shuts down the engine before severe damage occurs?

Answer
its dead.   You need to see what happen to as the engine over heating,sounds bad.Maybe head gasket.The head could be warped.It needs all the basic dead engine checks, compression,cyl leak down.etc.Get it checked now because continuing cranking isn't good if in fact its internal.