Years ago when I was about 18, my parents went away for the weekend. My boyfriend and I decided to make fried dough. Same thing happened. The oil got WAY too hot and caught fire. Like an idiot, I took the pan and put it in the kitchen sink. ONE drop of water got in the pan and the flames shot up buring the kitchen curtains, the wall near the sink. I KNOW exactly what happened to you and the best way to put out a grease fire is with salt.

Glad your not hurt.