Well I have a few questions that would help narrow it down.
Have you checked your spark plugs for signs of burning coolant?
How does the sled run? Smooth and steady or rough and erratic
Where is the thermostat in relation to the overflow tank? Could it be stuck shut and the engine coolant is expanding to the point of coming out the tank?
Was this its first run of the season and it worked last year? Did it work yesterday and now it is doing this?...