I think you have a good plan.
Let's see... Off the top of my head it's NOT rings or valve guides (or seals) since I think it is too sudden for that and I don't believe either would generate the amount of oil you seem to be describing. Unfortunately, it sounds more catastrophic than that. How many miles are on the engine?
I wouldn't try to start the engine. After you have your drink, you should run a compression test. If you have access to a leak down tester (and an air compressor) a leak down test would be better. You can buy them on ebay really reasonably but my guess is that you'll probably find out the cause before you receive it. They're nice to have but you don't need them very often.
Chances are that the compression test should at least point you in the right direction in case it's not obvious when you take off the head, but, sadly, I'm guessing it might be obvious then anyway. I'd guess that you dropped a valve or put a hole in a piston. The former is more likely. Hopefully, I'm wrong. It's been known to happen!
Good luck and let us know what happened.