Blue Smoke = oil burning

I do not understand what you mean by "starter is cranking but engine is not" as that is not possible unless your broke the crank or flywheel (or the starter is not engaged, but based on the smoke, that is not the problem). I feel that your problem is VERY bad (holed a piston, broke the cam timing mechanism, dropped a valve, snapped a rod)? I know these all sound very serious, but your symptoms sound odd, as if the engine is burning oil while passing raw fuel through the motor (hence the smell). Unless you want to start pulling spark plugs out, it needs to go on the flatbed to a shop that can start tearing down the motor.