Engine Clicks - Forgot oil., im an idiot. :( Options

[LimitedST]

Okay. heres the Downlow. I was driving on the freeway, and my oil light came on, i figured i would still be able to make it home to put some oil in. i was wrong. A few seconds later, the car started making a weird noise as i was traveling down the I-17 at 80 MPH. i decided to pull off at the next exit and at the red light the car shut off, Almost like if i stalled it when i was learning to drive stick. I pulled into the gas station there, and put some oil in it. but the damage was done.

So my question to all of you, since i know absolutely NOTHING about cars. Does this mean i need a whole new engine? The car runs fine without clicking untill i get over 2,000 RPMS. Then the clicking starts. Ive heard from people that the enginge is completely done and i need to start saving for a very pricey replacement.

Is there a way i can fix this? with limited knowledge? or no?
thanks for your help.

Luckilly i have my 5GC, but it is also having a problem. Its power steering. Its not working, i have to force it into turning, and only weighing 130 at 5"11. u can bet its pretty damn hard for me to do. It just started happening today. And the power steering fluid is almost full, but i topped it off to make sure. Do i need a new pump? if so , how much is that going to be to buy? and could i replace it myself?

Thanks in advance;
Jake
Black Limited ST

[presure2]

what the oil light does exactly is this.
when the oil pressure in your engine is BELOW ~5psi, the oil light comes on.
it is not a low oil level light, however, that is the cause of low pressure most of the time.
by the time the light stays lit like that, damage has already been done most of the time, and your gonna need a rebuild or replacement.
back in the day i had the oil light flicker a couple times under hard cornering, and heard a couple "knocks"...but was lucky enough to have arts motor ready to go in, which was the reason for letting the old motor get so low on oil.