It's supposed to do that.
The part you are referring to is called a "Flame Trap" - it is part of the positive crankcase ventilation (PCV) system. When it fails it causes too much suction in the crankcase, usually resulting in a nasty squeal or howl at idle that goes away when you remove the oil filler cap. Replacing it requires removing the intake manifold. My dealer quoted $450.00 for the job ($100 for parts and 3 hours labor).
Under the intake manifold!
the oil dipstick is located between the exhaust manifold
Not likely. In fact, the backyard mechanics' test for a blown head gasket is to drip some oil from the dipstick onto the (hot) manifold. If it bubbles, there's water in the crankcase. Another sign is white smoke in the exhaust.
You can tell when a manifold tuning valve is bad when oil is leaking through it. You also can tell by inserting the dipstick into the valve and seeing if oil comes out through the dipstick.
replacing the fittings
To find the positive crankcase ventilation valve, look on the right bank of the engine. The valve is located beneath the intake manifold.
The PCV valve is located in the camshaft cover,in the crankcase breather chamber or in the hose which connects the crankcase breather chamber to the intake manifold
Yes.
Positive Crankcase Ventilation Answer 2: The Positive Crankcase Ventilation (PCV) system reduces hydrocarbon emissions by scavenging crankcase vapors. It does this by circulating fresh air from the air cleaner through the crankcase, where it mixes with blow-by gases and is then rerouted through a PCV valve to the intake manifold. - Haynes Repair Manual #36071
No, but your crankcase should be vented anyway. If your getting coolant in the crankcase it is getting in from a bad head gasket or cracked head or bad intake manifold gaskets. If you don't fix it soon your engine will be toast.
If there is oil coming from the exhaust manifold it generally indicates a bad valve stem seal or a worn out engine. (too much crankcase pressure)