It is 1 1/2 cups - I measured it.
http://www.renntech.org/forums/index.php?showtopic=9454&hl=unapproved You would have to remove the cannister, dump the oil. Start the car so the cannister can fill up and check the level. If you want to remove more then you have to remove the cannister and repeat.
The filter is higher than the oil sump, so oil will not gush out.