Situations like this are unfortunate... especially when it comes to our personal education. The only advice I have for this particular situation is to, record all of the specific events which occur and when you have enough of an organized case built to show it to his boss in a calm, concerned and collected manner. This kind of crap is common elsewhere also. Often administrators are aware of the professor's situation and are working on getting them booted (but can't say anything). There's no better place to learn how to handle it other than school.

I had a professor who was senile, always had food in his beard, wore different colored socks, smelled funny, and never had matching jacket or slacks. It was a 100 level course and every other professor of the same class gave out A's like it was candy on halloween. My professor gave out F's and had to curve the entire classes score by 40%. He appeared to have no idea what he was doing. What was the name of the class??? 102 INTRODUCTION TO LOGIC !!! hahaha

When I went to school, I always kept in mind that I was the learner. The school did not teach me and the teachers did not teach me. I learned it all on my own by sitting in already active classrooms and working at my desk. It's amazing how grades aren't as important as we think once we're out of school. Grades are the main focus for schools, but they are not as important as what we learn and grow with.