90 Lebaron Brake Problem

Greetings,
New to this list so please go easy on me. Yesterday I bought a 90 vert with a 2.5L at an auction ($675). Drove it the 60 miles home and everything was going fine until a couple of blocks from home. Started smelling brakes. Got home and when I stopped in the driveway the front passenger wheel was smoking and the plastic hubcap melted. When I started the car up, the pedal went to the floor and the brake light came on. Took the wheel off this morning and don't see a problem with the brake. The wheel moves freely and I don't hear any rubbing. The master cylinder is full of fluid and the other wheels engage the brakes put there isn't any pedal. Any advise would be appreciated. Thanks in advance, cowpie

If the caliper got that hot it could have vaporized the fluid. The caliper must be sticking. I would replace both front calipers and blead the system.

thats pretty bad..... defanetly replace the callipers, you should also replace the rubber break lines (about $20 each) and get the rotor checked, it may be warped

Thank you for the replies. New problem, the bolts on the calipers are frozen. I have tried PB Blaster and a 20" breaker bar. Also heated it with my torch. Won't budge. Any suggestions?.
Thanks in advance, cowpie

Use a good 13mm socket. You may have to remove the caliper with the bracket but then you will still have to get the caliper off the bracket. Or get new brackets.(try a junkyard)