I realize that the coolant level rises when hot and therefore must be checked only when it is cold, but here's my problem...

My coolant level starts out between the MAX and MIN marks on the reservoir. Then after the car heats up the coolant level rises a LOT. Essentially it fills the reservoir to the top and bubbles as if it's boiling. Also there is a little coolant loss which is dripping out by the front passenger side tire when the car is hot. The drip stops when the car cools back down. Then the coolant level goes to the MIN mark on the tank.

Any idea what's going on here?

 

The drip is probably the overflow. The bubbles and the excessive would make me believe that you have a bad head gasket. You can go to the auto parts store and get a kit that will detect exhaust gases in the coolant and let you know for sure. They are reasonable.