My bmw m3 engine lost power and stopped and when i started it up, after 10mins i heard this clanking

the radiator was not overheating, i had the radiator cleaned prior to this, but the check oil signal on the dashboard came on. And the temperature gauge shot to red. I checked the oil and it was all sludgy

My bmw m3 engine lost power and stopped and when i started it up, after 10mins i heard this clanking sound,?house call

You didn't mention what year it was. But if it's an E46 model, definitely do NOT use 5W-30 in it. BMW says ONLY use Castrol 10W-60. Also, the change interval on this oil is 15,000 miles. If you used something different, this could be the problem. But without knowing what year and mileage, hard to guess.

My bmw m3 engine lost power and stopped and when i started it up, after 10mins i heard this clanking sound,?matchless

Call the dealership right away and tell them what is going on. I doubt it is safe to drive the car as it is, doing so may well damage it. You probably want to have it towed. But in any case you don't need to be taking any chances here, doing the wrong thing could cause further damage that will be expensive to repair.
ZCT is correct about not driving OR STARTING your car. Have it towed to the dealer.

I would not be surprised if your car were "pushed" inside the service bay by hand, once you tell them what happened.