Wow awesome info guys!

So the thermostat shuts the engine off to protect it from damage. But would it keep it from cranking back up? I think you guys are right though, the headgasket probably popped and the cylinders are full of fluid. We might be able to get away with just decking the surfaces but what are the chances that the block cracked? I would hate to go through all that then having it all go to shit cuz the block is cracked.