If you're going to recirculate the oil, why not just collect it into a separate container and use it to mix up new fuel? :-)

One thing you have to remember if you're going to recirculate the oil is that it has to go somewhere.

Stuffing it back into the engine means that it'll either be burnt (not a good thing) or come out the exhaust pipe -- whereupon some of it will still end up all over your model.