I used to pipe the gases into the exhaust, but I found that piping them into the air filter box before the filter is easier, without any penalties.
The pumps need a filter before their intakes. I like to use a big catch can. I make them myself out of PVC pipe. You want to make the catch can as tall as possible to prevent the sheer velocity from allowing the pump to suck up oil.
The catch can makes sure that there is no dripping since the oil never gets to the pump, and routing the discharge to the air box makes sure you don't endure any stink.
Don't worry about oil vapor. I have never seen any evidence of oil vapor deposits either in my air box or air filter. Either it's so miniscule that it can't be felt or seen, or its just not happening.
I've used these both in the form of a completely sealed crankcase (no air inlet at all), to using these with a small filtered opening to allow air to enter crankcase. Never noticed any benefits or drawbacks to going either way, but I guess I prefer to let some air flow through the engine. Either way, the crankcase will be under some decent suction. Takes a decent pull to get the dipstick out.
My favorite way to source bleed air for the crankcase inlet is simply to leave the existing crankcase inlet intact. It already comes from a smart, filtered location, so you can't really go wrong.