Not a bad thing to have plenty of oil on first fire up but too much below the crank could make starting difficult. I assume the engine is still in the frame. About the only things you can do, is try to soak some up with a very clean, lint free rag or suck some out with a plastic syringe. Kicking over with the plugs out may also help to remove excess oil. Don't give the kickstart too much wellie, the ratchet gear has been known to shatter.
I certainly second Karl's advise to start it up outside, close all doors and make sure the wind is blowing away from the house, preferably toward a neighbour who you don't like
Brian.