Broken timing chain?

I have a 2001 LS V8 with 115,000 on the clock. Has been running fine with no issues. Bought it with 89,700 and have done the ususal rear wheel bearings VCG plugs, COP's window regulators etc. The car ran fine on Friday, but when I went to start the car Saturday, there was a heavy mechanical clanking noise and then the car stalled. I managed to start the car again with accelerator floored with very heavy smoke out of the rear. As I think back in my mind, I believe that one of timing chains broke, probably a piece of the timing chain guides wedged itself in the sprockets and after trying to start the car the chain snapped and pistons hit the valves.
Done this sound right to you guys? Please advise.

I have a 2001 LS V8 with 115,000 on the clock. Has been running fine with no issues. Bought it with 89,700 and have done the ususal rear wheel bearings VCG plugs, COP's window regulators etc. The car ran fine on Friday, but when I went to start the car Saturday, there was a heavy mechanical clanking noise and then the car stalled. I managed to start the car again with accelerator floored with very heavy smoke out of the rear. I opened the passenger side valve cover and there is was, a broken secondary timing chain. The bottom piece of plastic broke off the tensioner and wedged itself between the chain and sprocket and snapped the chain. A compression test on all the cylinders on that side revealed no damage. The primary chain is still intact and the intake cam is still in time.
My question is this: rather than disasemble the whole front of the engine and front engine cover, can't I just split the new timing chain, re-install it and then re-time the exhaust cam and re-assemble?

Thanks for the follow-up.

The car and engine are still worth quite a bit, why risk it by taking short cuts on the timing chain install. I'm not sure you'd be able to "split" the new timing chain anyway. I think your best and maybe only course of action is to take the front end apart. Would you even be able to get just the one timing chain? I suspect they'll come as a set, so you can replace them all and not worry about when the other bank is going to leave you stranded.

-Rod