personally i haven't seen a cracked head on a cummins 5. 9. Like you say,usually the fluids mix or you have an external leak. The gaskets I have changed have been external leaks,due to a broken head bolt usually. The ones I have worked on the most in my carrer are in OTTWA yard trucks (haul semi trailers from dock to dock). They work the livin crap out of them 24/7. That's how I knew I wanted a cummins in my truck. We did have one 24 valve motor,that one did need rings and was doing what yours is. The 12 valves were indesructable. . with the exception of a few head gaskets,due to extenal leakage only.
Have you tryed leaving it low on oil,like at the add line to see if it stays there longer. Maybe your stick is not acurate? I would put a small bottle on the tube (tie it up somehow) to catch it so you can measure how much is actually passing out.
You can also measure the blow by with a water manometer to see if its in spec or not.
Make sure there is no obstructions in that tube,some of them were a hard plastic and are not always routed real straight down. If its kinked at all,it will build pressure,then shoot it out all at once when the psi gets high enough. I have seen that once too. Take shop air and see if you can easyly blow up into that tube. Leave the oil fill cap off when you do this so you can hear it come out the top of the engine.