Ok so I’m spinning my wheels messing with the pin.. what could cause excessive blow by?
Point blank you're getting too much fuel through the carb...
The question I can't answer without enough details or being hands on with it is "what is causing it to flood so badly?"
In my garage my first thought would be astuck float... problem with that being a stuck float will flood to the point that fuel runs out of the bowl overflow tube
(or for stock type carbs out of a hole between the carb and and the adapter plate)
Is there a fuel pump in use?
You can't use a pump with a slide carb, they exclusively use gravity (there are VC carbs with a built in pulse pump)
Reason being the pulse pump will overrun the float needle valve, this would not necessarily cause overflow tube leakage because the engine would need to be running or at least rolled over with the recoil to pump but if it's running its using at least some of the fuel being pumped so it can't exactly overflow.
Another thing about gassy oil...
If you poured gas down the spark hole with the piston at BDC until the bore was full and left it to sit eventually every bit of the gas you poured in would slowly make its way past the rings into the case.
Rings only truely seal when theres pressure on them, and the heat of running causes thermal expansion which tightens the ring end gaps
