I wouldn't recommend the setup in your photo. Iwould suggest using a length of brass fuel tubing through the hole in the motor mount that a nose wheel would normally go and run your vent tubing to it. The crankcase has to breath and breathing through a short straw is easier than through a garden hose.

I"m not sure you are going to accomplish much in the way of a clean plane with either setup though. The exhaust is going to pump a ton of oil out no mater where the vent is. That is the bulk of the oil you are seeing with your first setup. The vent line does spit out oil, but not like the exhaust does. Once the engine gets broken in, and you get to a better tune, the amount of oil will drop, but not go away. It will be less than a two stroke engine of a like size but it's still there.

Good choice of engine I might add. It will treat you will.

Don