Calling all car mechanics wanna be and real

Friday my buddy let me barrow his 91 ford explorer (aka the sploder) anyways it was running like normal, I drove it how I always do ect. Well after I got back to the school, a really bad stench was coming from it. I assumed it was burning tires because I hit the turn really hard and slid, parked got all set to go in. When I jumped out the engine was smoking really bad. I figured it needed new oil, or something, easy fix at lunch.

Thing is, during lunch, I went with him, just we had an issue. The sploder would not move. It turns on, clutch works, and you can put it in gear. Just it will not move except for the hill it's parked on tiling back when the clutch is in. When you push in the gas, rpms go up, up, up, up. Speedometer stays at 0.

He's not going to make me pay for whatever happened, but wants me to help fix it. I have never had this issue though. So I don't know what to really do.

I've come up with a few ideas, but I'm not sure, I can give more info as needed.

1. Transmission fluid is low and needs more $10 dollar fix.
2. Drive line took a crap, it's what ford sploders are known to do.
3. Some gears got sheered.

There are more and stuff but it's a nice start. Anyways I need help on this so karma doesn't kill me.

I to be honest, have no clue what to do, I have a chevy blazer that'd out of commission right now (blown head gasket) thing is, I can tell what goes on with that with no issues, this is foreign to me and I'm
Lost.

Definitely sounds like the drive line to me.