Sputtering, dying and white smoke?

Hi all, today I had a bad panic because I was about to turn out of somewhere when my truck sputtered and died on me. I tried starting it again but no avail, same sputtering and then dying. After about three minutes of letting stay off, I managed to start it and reverse into a parking spot. I let it cool longer off and my friend arrived about ten minutes after. I decided it would be a good idea to drive it out of the sketchy parking lot to the school next door. However, I started and it was fine (idled about 500, which is odd because normally it stays around 700). It sounded awwwwful, I can tell you that. Smelled burning rubber or oil, could not identify the smell properly. But, I managed to move it about ten feet and then it stuck itself at 1000 and sounded like it was leaking air or something ? (hard to describe). Parked it and after a few minutes of talking to my friend, I started again and managed to drive it all the way to the school (about a 1/3 of a mile) keeping it under 20. But then in the parking lot I noticed a deal of white / gray smoke from the engine leaking from the hood (so I assume it doesn't have enough oil, since I have not changed it since I bought it , 4000 miles ago <--- could this be the problem?). But also upon inspection of the engine in the parking lot there was a fair deal of grime all over the bay. Noticed too that the block was coated in grime (when I bought it, it was extremely clean).

As for the background information,
- Bought last year in August around 113200
- Right now has about 117420 on it
- About two months ago noticed a sound of leaking air (best I can describe it), but I didn't feel a difference in performance at all
- No modifications except for the front left wheel being the spare
- I have taken it through a lot of big puddles and mud in the past and hit some holes in dirt before, still have not noticed any impact from that
- Brakes aren't working great I must admit, and I have a small bit of rust on all my lug nuts
- Have not had it serviced since buying it
- Idle has been strange to me ever since buying it. When cold cranking, the engine starts right up at 2000 rpm and then gradually goes down to about 700 in two or three minutes
- Truck does clunk sometimes when shifted anywhere from park to drive to reverse
- Never had any check engine lights, nor has the oil temp ever reached above about halfway
- Only light is low tire pressure, which I maintain but I feel like the spare has caused that one

For now, I'm driving my mom's car. In the morning it'll be towed to the garage and hopefully the repair won't be too expensive.

Any advice or help would be appreciated

Thanks

 

My thoughts are on a busted head gasket or cracked head. White smoke is normally coolant burning which could cause sputtering or misfire.

 

see weird thing is is my 04 did that when it was about to lose its cat and the guts finally clogged it up

 

update, got it towed this morning and garage diagnosis said it was a seized belt tensioner.