Think of the tape as like a gasket. It can handle the heat. It is the easiest and cheapest fix to get you down the road.
if you want to use the oil catch can, it goes from your valve cover to PVC hole on the block. Take your PVC valve to Ace and get a bolt with the same thread size to plug the hole. You will also have to plug the hole on your intake from the hose that goes to your valve cover.
It is a can that catches oil. You have to empty it.
Read this...
http://forums.nasioc.com/forums/showthread.php?t=754710