New Process 208, Blown??

Howdy, I have a 1987 Chevy V20 Pickup. It has a automatic tranny and a 208 transfer case. Basically while backing up on a hill there was a load pop and the front wheels no longer have drive. It is essentualy just rear drive no matter on the transfer case selector. In addition the speedo moves backward in reverse. I mounted a camera with a magmount under the vehicle and noticed, on ice, the rear wheels spin and the front shaft tries but doesn't rotate. Basically I believe the transfer case (probably the chain) blew. Does anyone know if this sound about right??

yeah ithink yer right but you might have blown the panetary center diff the 208 and 203 have one becues of the fact that its actualy all wheel drive i would sugest getting a 205 its as close to bomb proof as you can get

yea take it apart you have a bad chain inside. Keep us posted