Water in my oil

[Rooster's82]

I'm rather embarrassed to tell you guys about this but i flooded my engine with water. In the most boneheaded way. I was putting in a new T-stat and decided to flush the coolant system while i was at it. Well i just let the water flow out of the intake (where you put the t-stat) over my engine block and down the sides. I have to say at the time it seemed like a good idea, the hot water from the system flushing over my engine and removing some grease and grime. Well as it turns out the water flushing over the engine found its way in somewhere....not sure where but it did and now my oil looks like cappuccino. I only drove the truck about 5 blocks to warm up the engine to see if the t-stat was working (which it is). Then i went to replace my oil pressure sensor and saw that my oil was toast. So i have had it draining for about 24 hours now.

I plan on getting some cheap oil and running it for a couple of minutes, draining and repeating until it looks like i have the water out. Has anyone else had to deal with a situation like this? Is there anything out there designed to aid in the removal of water from the engine? I was thinking about dropping the oil pan and cleaning it out while i was at it...any thoughts on this? I have been meaning to replace the valve cover seals too, should i do that know too? any suggestions on the order...like should i do the valve cover and oil pan before i start running clean oil or after?