When starting it cold it revs up to 3000rpms and drops quickly down to 1500 or so and sits and bounce between 1500 and 1700. Also there are small puffs of white smoke come out the tail pipe when it goes up and down. IT also sound s like it missing real bad(new spark plugs and wires).

 

3000 RPM is normal for up to 30 seconds, but should then drop to around 750. I would check and adjust the tps, check for vacuum leaks, and make sure you're not eating coolant. That's a start...