Well my friend, I'd say that it depends on the type of person you are. You'll get a lot of people telling you to play the field, drink, etc etc. But what kinda person are you? Are you the type to respond in vengence, party, or move on? I'd say, do whatever you think would be most constructive for you. There's plenty of time to find a soul mate.
Personally, sowing my oats was the response I had. I know I wouldn't have graduated from college had I not broken up with my ex. So, in my case, the break up was a good thing, regardless of how badly it felt initially. I got to have fun, party, and also concentrate on school. Took me a while to realize there are plenty of girls out there.
This is a great time age-wise to explore and find yourself. You may want to play! You may want to buckle down and kick arse at that engineering program you are in. Either way, don't do anything self-destructive, which I'm sure you wouldn't do anyway...right?
Good luck.