A 55-year-old diabetic male with a recent history of weight loss and fever presented to the emergency department with a history of three episodes of hemoptysis. He reported streaking of blood in sputum twice in the past 2 weeks, but this morning he expectorated approximately one cup of bright red blood. While taking the history, he had another episode of massive hemoptysis and became hypoxic. Considering his clinical presentation, how will you manage this case?