Car runs like garbage,.....

I was hoping that somebody here could at least point me in the right direction. I drove my car this morning to the doctors and noticed that it was running extremely sluggish. Starting in first gear, the car takes off extremely slow until I reach around 2k rpms, then when I shift into each higher gear after, the car also accelerates real slow until about 2k rpms. No matter how much gas I gave, the car would still accelerate slowly. At one point when I gave the car a lot of gas, I think I may have heard the car backfire as well. The car acted the same way on the home from the doctors, and when I got home I popped the hood for a quick minute to take a glance around, and noticed that the exhaust manifold was red hot. I also took a gander at the coolant level and that was real low as well. I am going to fill the coolant back tomorrow morning. I was wondering if the red hot exhaust manifold, and the low coolant level could be related to how sluggish the car has been running? If not, anyone have any suggestions about my problem?

95 V6 3.8L Mustang - No mods except for an CAI.

Yeah, the reservoir was about 1/4 of the way full, maybe a tad bit less than that. Well, I just went to go put coolant in the car before I headed to school. After I put more coolant in and the fluid reached closer to the top of the reservoir, I got a much better look at the coolant. Looks like there's oil in the coolant. From what I read, doesn't this sound like my engine blew a head gasket?

Naw, haven't checked the oil lately, I'll check it tomorrow when I wake up. Been little busy, I have time to mess with it now over the weekend. My exhaust doesn't have any smoke comming out of it at all, at least not yet anyway. Yeah, haven't seen you in quite a while either, it has been a while since I've even been on this site. The Mustang that I have is a 95. The CAI I've had on the car for probably about 3 or 4 years now. I never changed the MAF either, I have just been using the stock MAF.