Well if I was in your situation I would 1st see what kind of support you have from other high ups for the VP spot. If you find you have some I would then work with them to approach the owner about considering you for the postion. If for some reason you don;t have the support of other upper lvl mgmt or the owner turns you down, you can stick it out for a bit and see how your new boss works out or you can quit.

It sounds to me like any company would be lucky to have you so I'm sure a good paying job won;t be hard to come by. Hope that helps a little

Good Luck