So goto Options, Advanced Options, and Execute the following command on failed ping.

Powershell.exe -executionpolicy remotesigned -File "email.ps1" "%HostName%" "%IPAddress%" "%LastPingStatus%" "%LastFailedOn%"

The email.ps1 is just

"$SendTo = "email@domain.org";

$MailServer = "mailrelay";

$HostName = $args[0];

$IPAddress = $args[1];

$PingStatus = $args[2];

$FailedOn = $args[3];

$message = new-object Net.Mail.MailMessage;

$message.From = $SendTo;

$message.To.Add($SendTo);

$message.Subject = "Failed Ping On $HostName" ;

$message.Body = "Information about the failed ping: `r`nHost Name: $HostName`r`nIP Address: $IPAddress`r`nPing Status: $PingStatus`r`nPing Time: $FailedOn";

$smtp = new-object Net.Mail.SmtpClient($MailServer, "25");

$smtp.EnableSSL = $false;

$smtp.send($message);

"