it seems like every 2 months or so my "low oil" light comes on...its usually about a quart to 1 1/2 quarts low....where is all my oil going? there are no puddles under the car and even the outside around the pan is clean...any ideas?
Have you puled plugs to look at them recently? If could be burning it.
Another thought is to look at the PCV valve and then check in the intake to see if you have a lot of oil residue in there. Blowby (pressure leaking past the piston rings) will force oil mist our of the crankcase and into the intake.
How many miles is this happening in?
Have you run a compression check?
How many miles on the car?
The good news is that it could also be the valveguides and these are much easier to replace than to rebuild the shortblock.
How many quarts are you putting in at each oil change? Pay no attention to the full line on the dipstick. Put in 5 full quarts at each oil change with a new filter. Many dipsticks are marked wrong. Mine used to indicate full at four quarts. I was running around a quart low all the time. The sensor comes on when you are just slightly more than a quart low. It took me about 1500 miles to get the light. I'd put in a quart and it would be good to go 'till the next oil change. I ended up remarking the dipstick after a full five quart oil change. Now no problems.