I have a 1995 ford Thunderbird lx that has a V8 engine. The engine overheats fast and I can't drive it far. What might be the problem?

I can only go up the road a couple of miles before I have to turn the car off and check antifreeze. Because, The antifreeze drains when I drive far, now I use water instead of antifreeze.

Are you white?

And where is the antifreeze going - on the ground you have a leak and need to fix, could be just a hose with a crack in it
can't find where it's going - bad news, it would be leaking into the motor, check your oil for sign of being contaminated,
also replace your thermostat, any over heating that should be the first thing to do

Uh, there's a hole in your radiator, uh duh.

You have a LEAK.
Note: Pure water BOILS at the normal operating temperature of many engines. The MIXTURE of water and antifreeze/coolant is required to properly cool the engine.

Blame the thermostat. Change the thermostat… With new. Then put antifreeze back in. Water is a lousy coolant as it has no lubricants for the water pump seals. They will wear out faster and then you will leak and need to change waterpump. Thermostat is under that cast iron hump where the top hose connects to most likely. Drain out some coolant first and then undo the 2 bolts and lift the cast iron igloo up and there's the old thermostat. If it is not on top it is on the bottom hose connected to an igloo on the engine block. More coolant has to be drained out. Then undo those bolts and you will see the thermostat. It is stuck closed. Just replace or put nothing back. Engine will not overheat but if you live where winter snow is usual, then the winters will be nippy in the car. As it takes longer to heat up the engine. Instead of a mile; maybe 5 miles before heat enters into the car.

If the antifreeze is draining when you drive far it could be as simple as taking a screwdriver and tightening each hose clamp a bit more to fix it. That could be a dozen or more hose clamps that hold coolant. Heater hoses hold coolant. Inside the car under the dash you got at least a pair of clamps that could be leaking. If that does not fix it and none of the reservoirs are leaking, then the water pump is leaking. Replacement is fastest and easiest way to fix it.

Any leaks? If not it could be the thermostat is stuck. Since you are on water only right now you could take the thermostat out and simply run without it to test drive. If it cools better then drive to the parts store and get a new thermostat.
I drive older vehicles too and one thing I do is get a slightly lower pressure radiator cap. Vehicles usually call for a 16 psi cap but you can get a 13 psi cap and they run fine. That slightly reduced pressure will reduce the chance of a leak. I also run a half of a tube of pure Alumaseal all the time because it lubricates the water pump. And it is in there if a small leak develops.

You need a mechanic, not an argument. A leak that serious is a real risk that you will damage the motor as you keep frying it. There are many things that could leak. Stop leak additives will have no useful effect, if you were thinking of trying any on such a leak. Whatever is letting the water out needs to be replaced. If I could look at it, a leak that serious would be easy to find. Don't keep driving it unless you want to end up needing an engine.

You need to pressure test the cooling system. It will show where the coolant leak is. They are obd2 (I have a 95 4.6 bird). A scan tool with live data will show ECT temperature. Also make sure thermostat is functional.

If the coolant is not on the ground, it must be going out the exhaust pipe.
Have a pressure test put on it. If you see coolant dropping, thst is the problem. If the pressure drops and you see nothing dropping, you have serious problems; e.g. Head gasket, manifold or engine cracks, etc.

Get the car towed to a mechanic.