A cooling system for internal combustion engines provides directed flows of heated or cooled coolant to various engine components and/or accessories as needed. By providing directed flows, the overall coolant flow volume is reduced from that of conventional cooling systems, allowing for a smaller capacity water pump to be employed which results in a net energy savings for the engine. Further, by reducing the overall coolant flow volume, the hoses and/or galleries required for the directed flows are reduced from those of conventional cooling systems, providing a cost savings and a weight savings. Finally, by preferably employing an impellor type water pump, the expense of an electric water pump and its associated control circuitry can be avoided. The direct flows are established by a multifunction valve which, in a preferred implementation, comprises a two-plate valve wherein each plate is operated by a wax motor.