Chrysler Repair: 99 3.8 wont idle, blows water out tailpipe,code 0303, cylinder head bolts, last ditch effort

Question
My husband was driving to work this morning with the cruise set at 60. The van lost power and died, coasting to a stop. The code it gave was p0303 so my dad and I changed the plugs and wires, but this had no affect. The number three plug was wet and the others were really black. It will only idle if I keep the rpm's high. The van has 160,000 miles on it and we are the second owners. Its been a great van for the 55,000 that we've put on it until today.My dad says it looks like water blowing out of the tail pipe, and the exhaust has a strong gas smell. I also changed the fuel filter. The van is about half way through the last fill up so I don't think its bad gas. I don't have a lot of money to spend on my uneducated guessing so your opinion on were to go next would be very appreciated.Thank you, judy

Answer
Hi Judy,
If you are getting water (coolant) out the tail pipe (white smoke on start up that smells like antifreeze), and you notice the coolant level is low, and/or you hear bubbling in the cooling system shortly after starting it, those are all signs of a blown/leaking head gasket. The #3 plug being wet suggests the leak is from the cooling system into that cylinder. You could try removing the #3 spark plug before starting it again (assuming you have run it for a while enough to warm the engine before last shut off) and then have a helper crank the engine while you watch for the ejection of coolant out the spark plug hole which would corroborate this theory.
If you do have a leak, it might be worth a try to loosen the cylinder head bolts to a little under 65 foot pounds, then tighten to 65 foot pounds, then tighten 1/4 additional turn (using a ratchet for that last step so as to get the 1/4 accurately). See if that might stop the leak, on the possibility that it is due to loose headbolts rather thatn a blown gasket. A last ditch effort would be to put some Bar's Leak in the cooling system to try and plug the gasket leak.
If neither of those work then the head gasket on that side will have to be replaced. But there is no harm in trying the bolts and the stop leak.
Please let me know what you conclude and how this goes.
Roland
PS Use the 'thank/rate' tab below to get back to me with a response and without having to wait for me to be 'available' to take a follow-up question. There is a space for comments.