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Does anyone out there know why my 302 in my 79 f-100 is spitting oil out of the dipstick? As far as i know,there have been no performance mods done to it. Strictly stock set up with about 70k on the odom. Any insight would be appreciated.

What have you checked on it? When does it do it? At idle or crusin doen the street at 3500 RPM?
A few things it can be...
Oil level..not to full is it?
1.PCV valve could be clogged
2.worn compression rings allowing the crankcase to get pressurized

Here is an example of "dipstick tube explosion"....
This is very common on turbo cars as excessive boost blows compression past the rings, pressurizes the crankcase & as you know the dipstick tube is the path of least resistance.

You can try driving around with the PCV valve disconnected & see if it continues. If that fixes the problem check for either a bad PCV valve or an obstruction in the hose.

A few other things you can do, as long as you know everything is working as it should. One would be to wiretie the dipstick in place.
Also, check the rubber seal on the dipstick it self. It could be worn out just causing the stick to come out causing oil to come out the tube.

I replaced the pcv valve and hose first. The problem was still there.I then changed the dipstick thinking that it was 30 years old and it wouldn't hurt. Stil pissing oil only under a load. I can rev the motor in neutral and nada, the minute i put it in gear and put a load then it just spits.