Milky discharge out crank vent hose to airbox

[Crankin04]

Hello fellow 4-Strokers,

I'm having a problem with my 04 FSE 450 spitting really, really white/milky oil out of crank vent hose. it's like really milky white. I can post pics if needed, and it seems to only happen when I've been riding in high RPM's as well or slow trail work. Bike also backfires A LOT when warmed up and riding, and dies/stalls easy when it's hot. Any ideas? Did I over fill with oil? Should I also check air bleed screw and fuel trim?

It is still very cold here in Washington State, so maybe it's condensation? Also noticed some smoke come out of exahaust while trying to start bike again then it goes away.

Thanks,

Crankin04