[Gearhead999]

Sounds like the needle is sticking in the carb. Letting fuel pour into the engine, flooding it.

Try tapping, lightly, on the top of the carb in two places. Near the fuel inlet line and on the opposite side where it looks like a fuel line might go. Pull all the plugs and turn the engine over. Pull the coil wire too. Don't need one of the loose spark plug wires firing off the fuel mixture that is coming out of the spark plug holes. Dry out the plugs, or better yet replace them.

I'd also look at the rotor and make sure it is turning with the engine. Then pull the distributor and look at the gear and pin and see if it has sheared.

You surely got A BUNCH of gas in the crankcase in order for it to blow the valve covers off. Is the fuel pump good, it can and will pump fuel into the crankcase when the diaphram goes bad.

I think you'll find a problem in or with the distributor.