Unless you are losing coolant (which may suggest an inlet manifold leak which allows coolant into the combustion chambers), I'd first make sure I was using 20W50 oil and not a thinner grade.
At 180K, it should not be blowing smoke/using oil unless it's done mostly short runs during it's life. Use of a thicker oil will usually reduce smoke, and it's a lot cheaper than doing the engine up.
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