Yup, first step is to CALIBRATE the engine oil dipstick. It was NOT provided by your engine manufacturer. It may or may not be accurate.
IF you overfill, your engine WILL puke it out.
If you still have a problem after verifying that you are not overfilling the crankcase, indeed fit a catchment jug. Just make absolutely positive that you do not restrict air flow.
And if you are going to use something such as the steel wool recommended (a reasonable concept), use something that will not rust. So bronze wool (marine store) or stainless steel. Regular steel wool when exposed to the moisture it will be exposed to in that location, will turn into a pile of rust and if left long enough will restrict air flow.
Sure, if you live and drive in the desert SW, not a problem.