It smokes really bad out of everywhere, compression is minimal, it burns as much oil as it does gas, rings are shot.
I doubt that it's just the rings.........
This is how it sorta goes;
Engine gets hot,
Pistons swell up and stick to the bores.
As overheating continues, the pistons and or the rings, micro-weld to the bores,
transferring metal to them.
The rings are forced to ride over that transferred metal, which tears molecules off the hot edges.
The engine loses compression, which is power, and soon your gas pedal is way down, trying to make enough power to maintain forward motion.
If you stop the engine;
the engine usually locks up for some time. When it cools,everything sorta returns to normal size, and maybe the starter can break it loose, and maybe it starts. But with torn-up rings, combustion pressure leaks straight into the crankcase, and overwhelms the PCV; so now it blows out anywhere it can, and if it can't get away fast enough, it makes new escape paths.
But if you stop before it locks up, and fill the rad with cold water.... who can say what will happen next.
In any case, your engine, if the block is not already cracked, is a prime candidate for a proper complete rebuild. This is way beyond a dingle-berry hone and new rings.
IMO;
The fastest way to get back on the road is to get a replacement engine. To rebuild yours or a suitable replacement, could be many weeks to a few months; and that was before Covid. Pay extra for a good running take-out and chalk it up to a learning experience.
