You are correct... you could build a system similar to the pre-smog engines. (A snorkle tube came from the crankcase and hung in the airstream beneath the vehicle. They also used a vented oil filler cap. They used a metal filter inside the cap.)
The problem with these, of course, was all that blowby went into the air. It made the car smell of burned oil after a while. The engine oil also got dirty much quicker and engine life suffered.