2000 Ford Explorer Smoking?!

Alright, I am not an Automotive guru by any means so any help will be greatly appreciated. My family has owned my 2000 Ford Explorer 2dr Sport for almost 15 years now where it was passed down to me and now has 165,000 miles on it. It had the dreadful OD LIGHT problem about 2 years ago where our local mechanic put a new solenoid pack in it. It stopped up until now. The OD light began to flash while I was out. So I remembered to pull over and reset it and it didn t do it again. I had to go back out and about 10 miles from my house it began to flash again. I pulled over to shut it off and began to smell a burning like smell but it didn t smell sweet like antifreeze. Then I noticed smoke coming out from underneath the hood, I popped the good and waited on traffic to go by so I could step out and by that time the smoke had cleared where I couldn t see where it was coming from. When I got home I read up online about a headgasket problem and I checked my oil but it was not milky. Would any body have any suggestions as to what the problem might be

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