Need help with smoke question

Hey guys and gals,
This is my first post so thanks for all who respond. I have a 06' 350 Rancher that is smoking pretty bad out of the exhaust. It is white smoke so I am almost certain that it is oil burning. I will tell the story as to how it happened.

As I was riding this weekend I dropped off in a mud hole that was deeper on the right side than expected. As soon as I did my rear end shot up and threw me off the side. Well my buddies was wanting to take a pic so I let it sit there for just a second with the back tires off the ground and the back left tire about 4 foot off. It didn't start smoking until after that. When we got to the truck I took the airbox cover off and a little oil was in the bottom along with the filter. So I got home and took the airbox completely off and the hose that runs out the side of it and to the moter was gunked up with milky clumps. Cleaned everything up and it smokes just as bad if not worse. Is it possible that while I let it sit there it that position for about 30 seconds, that some oil might have ran into somewhere else it shouldnt have and its just burning the oil off? Will it burn itself off or do I need to take it a mechanic.
I have also noticed a pinging noise that gets louder as the RPM's get higher.
Im thinking rings and a maybe a piston or valve or something, but I do not know.

Any comments will be appreciated.