Sorry you're having a hard time with feeding James and getting him to sleep.
It might be worth getting it checked out by a doctor. It's probably something quite innocent, but if you're worried, go with your gut feeling. My friend's daughter started vomiting up feeds and it turned out she had a hernia and parts of the intestine were getting stuck in the gap, causing the vomiting. That's probably worst case scenario, though,
and I'm sure other people will have more ideas about what could cause the vomiting.
The chomping on his fists and and drooling constantly sounds completely normal though. All of mine have started to do that around 3 to 4 months.