BMW Repair: Pcv valve (Crankcase vent vale), coolant level, vent valve

Question
I have a 2001 BMW 530i with 64000 miles on it. Earlier this week when driving home from work (I have about a 20min interstate/hwy drive home)I felt a hesitation when pulling onto the interstate. Didn't think much of it. It was very cold out, about 10 below. When I exited off the hwy and came to a stop sign I could smell oil burning. I pulled around the corner and opened the hood. I noticed oil coming out the valve cover onto the exhaust manifold. I got the car home and shut the car off. I opened the oil fill cap and there was a milky white film on the oil cap and alot of pressure in the engine. After the engine cooled down I checked the radiator level and it was very low too. I had the car towed to the dealership and they diagnosed the problem as the pcv valve (I believe it is official called the crankcase vent valve on BMW's) The dealership said that the valve froze and plugged up causing the oil leak and pressure. The valve is on backorder so they haven't been able to replace it and run the car again yet. I asked the service writer why the coolant level was way down? He didn't have an answer until they could run the car again.Does this sound like a headgasket? or maybe even something more than that?

Finally I have an extended warranty on the car and was told that this wouldn't be covered because the valve froze. I'm wondering that if it is more than the valve if warranty will cover it? Any help or info you could give me would really help me out. If you need more info feel free to e-mail me. Thanks.

Answer
Mark, I'll bet your head gasket is fine. I would have the Valve cover gaskets replaced aswell as the CCV valve. I don't know if the warranty covers this component or not. BMW's eat coolant, so if the level is low every so often don't be alarmed, just top it off. Make sure you don't have any cooling system leaks and the radiator cap is holding pressure. I usually replace the hoses that connect to the CCV valve because the plastic becomes very brittle over time. Also a good idea to replace the throttle boot that clamps onto the throttle and idle valve while they are in there. The boot tears at the idle valve bend and cause air leaks over time. Just a suggestion.
-Evan